Shell signed up with TotalEnergies un agreement of purchase and sale for the divestment of its European operations in the onshore renewablesThe scope includes operating solar and wind farms, facilities still under construction, and projects in development. Operational or soon-to-be-operational capacity amounts to approximately 500 MW and is concentrated primarily in Italy and the Netherlands. This is complemented by a portfolio of approximately 3,5 GW consisting of solar, wind, and battery storage projects located in Italy, the United Kingdom, and Spain.
Financial details of the transaction have not been disclosed. Completion remains subject to authorization from the competent authorities and is expected to be by the end of 2026.
For TotalEnergies, the acquisition represents a further step in the growth of its European electricity business. The French group already has nearly 10 GW of gross renewable capacity installed or under construction and another 27 GW of projects under development.
Italian plants between Puglia, Piedmont and Veneto
The Italy It plays a significant role in the portfolio sold by Shell. The British group's operating facilities are mainly located in Puglia, Piedmont, and Veneto.
Shell's first solar farm in the country, with a capacity of approximately 20 MW, has been operational in Taranto since May 2024. The Cumiana plant in the province of Turin also began operations in May 2025.
The Veneto region includes two agrivoltaic projects, Canda and Loreo, both in the province of Rovigo and inaugurated in April 2026. The plants combine solar energy production with the continuity of agricultural activities on the affected land.
TotalEnergies thus aims to consolidate its position in the main European electricity markets, integrating the new renewable capacity with its flexible generation activities and the gas-fired power plants managed through the TTEP joint venture with EPH.
“We are strengthening our position in power generation in key deregulated markets across Europe and implementing our integrated strategy across the entire electricity value chain,” he said. Stéphane Michel, president of Gas, Renewables & Power at TotalEnergies.
Shell reshapes its portfolio, TotalEnergies sells assets to KKR
The transfer is part of the process of review of energy activities initiated by Shell after the 2025 Capital Markets Day. The British group intends to focus investments in sectors where it believes it has greater expertise and better return prospects. "This agreement reflects Shell's ongoing commitment to actively managing and enhancing its energy portfolio, in line with the strategy defined at the 2025 Capital Markets Day," said Shell. Machteld de Haan, President of Shell's Downstream, Renewables and Energy Solutions. "We are reinvesting capital and prioritizing areas where we have specific expertise and can create the greatest value over time, including through asset-backed electricity trading and customer-centric energy solutions."
In parallel with the acquisition of Shell's assets, TotalEnergies also announced a separate transaction with KkrThe French group will sell a 50% stake to the US fund in a wallet of renewable assets The 1,2 GW facility, already fully developed, has a total value of €1,8 billion. The plants involved are located in Germany, Spain, France, and Poland. TotalEnergies will retain the remaining 50% and will continue to manage the assets after the transaction is completed.
