Shell Sells European Renewables To TotalEnergies
Shell sells European renewables business
SHEL TTE Shell offloads European renewables business to TotalEnergies in latest pivot away from green energy Shell has agreed to sell its European renewables business to TotalEnergies as the oil giant continues to scale back its investments in green energy.
The FTSE 100 firm said the deal, expected to complete by the end of 2026, will include the sale of assets across the UK, Italy, the Netherlands and Spain.
The deal contains a portfolio of around 0.5 gigawatts of renewable energy capacity, as well as a pipeline of future projects.
The sale of Shell's European renewable portfolio Marks a further departure from its previous strategy of diversifying into green electricity.