{"id":60730,"date":"2026-08-03T10:19:11","date_gmt":"2026-08-03T10:19:11","guid":{"rendered":"https:\/\/www.europesays.com\/france\/60730\/"},"modified":"2026-08-03T10:19:11","modified_gmt":"2026-08-03T10:19:11","slug":"shell-sells-european-onshore-renewables-to-totalenergies","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/france\/60730\/","title":{"rendered":"Shell sells European onshore renewables to TotalEnergies"},"content":{"rendered":"<p data-testid=\"article-description\">The deal includes about 500 megawatts of operating or under-construction solar and wind assets<\/p>\n<p>Published Mon, Aug 3, 2026 \u00b7 04:52 PM<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">SHELL is selling its onshore European renewables unit to TotalEnergies, the companies said on Monday (Aug 3), as the British oil major continues to scale back its low-carbon investments to focus on upstream operations and trading.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Shell said the deal agreed with TotalEnergies includes assets in Italy, the Netherlands, Spain and the UK, though it did not disclose the sale price.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Since taking over as Shell CEO three years ago, Wael Sawan has shifted focus away from renewables, seeking <a class=\"text-verticals-btblue underline hover:text-blue-500\" data-testid=\"article-annotation-link-component\" href=\"https:\/\/www.businesstimes.com.sg\/international\/shell-forecasts-lng-demand-grow-despite-iran-war-volatility\" target=\"_blank\" rel=\"nofollow noopener\">better returns in oil and gas projects<\/a>.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Last week, the group reported that its <a class=\"text-verticals-btblue underline hover:text-blue-500\" data-testid=\"article-annotation-link-component\" href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/shells-profit-more-doubles-us9-8-billion-us-iran-war-boosts-oil-gas-prices\" target=\"_blank\" rel=\"nofollow noopener\">second-quarter profit more than doubled<\/a> from a year earlier to the second-highest on record, helped by <a class=\"text-verticals-btblue underline hover:text-blue-500\" data-testid=\"article-annotation-link-component\" href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/energy-commodities\/high-fuel-prices-endure-global-conflicts-hit-refining-capacity-warn-exxon-and-chevron\" target=\"_blank\" rel=\"nofollow noopener\">higher energy prices<\/a> and stronger liquefied natural gas trading.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Adjusted earnings for its renewables and energy solutions segment was US$79 million, versus a loss of US$9 million for the same period a year earlier.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Shell has said it wants to focus its power business on supplying large customers with energy solutions that combine renewable power with less intermittent hydrocarbon-based generation.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">UK peer BP is also <a class=\"text-verticals-btblue underline hover:text-blue-500\" data-testid=\"article-annotation-link-component\" href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/bp-cut-700-jobs-it-simplifies-company-internal-email-shows\" target=\"_blank\" rel=\"nofollow noopener\">refocusing on its oil and gas businesses<\/a> after scaling back its investment in renewable energy.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">TotalEnergies said the deal, expected to be completed by the end of 2026, includes a portfolio of about 500 megawatts of solar and wind assets in operation or under construction, mainly located in Italy and the Netherlands, as well as a 3.5 gigawatt (GW) pipeline of solar, wind and battery storage projects in Italy, the UK and Spain.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">As of the end of the second quarter, Shell had about 4.5 GW of renewable power generation capacity in operation.<\/p>\n<p class=\"mb-6 border-b border-gray-250 pb-4 font-poppins text-4xs font-medium tracking-10 text-gray-515\">SEE ALSO<\/p>\n<p><a class=\"block h-full w-full\" href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/shells-profit-more-doubles-us9-8-billion-us-iran-war-boosts-oil-gas-prices?ref=article-see-also\" data-discover=\"true\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"relative z-10 h-full w-full object-cover\" src=\"https:\/\/www.europesays.com\/france\/wp-content\/uploads\/2026\/08\/dd1e355b939f80007100a1135efa6677630ff40964b109d24653b31d4f3dc75f.webp\" alt=\"Higher oil and gas prices, stronger liquefied natural gas and oil trading and improved chemicals margins helped support the Shell\u2019s earnings.\" width=\"5237\" height=\"3492\"\/><\/a><\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">TotalEnergies also announced on Monday a separate sale of a 50 per cent stake in a 1.2 GW European renewables portfolio to global investment firm KKR, valuing the portfolio at 1.8 billion euros (US$2.1 billion).<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">It said that both transactions were in line with its strategy to build renewable and gas-fired power generation capacity in key deregulated markets, while selling down up to half of its renewables holdings at a profit.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6 inline-block\" data-testid=\"article-paragraph-component\">TotalEnergies\u2019 European renewables asset portfolio amounts to almost 10 GW of gross installed capacity or capacity under construction, and 27 GW under development. REUTERS<\/p>\n","protected":false},"excerpt":{"rendered":"The deal includes about 500 megawatts of operating or under-construction solar and wind assets Published Mon, Aug 3,&hellip;\n","protected":false},"author":2,"featured_media":60731,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12699],"tags":[1535,1761,13654,5726],"class_list":["post-60730","post","type-post","status-publish","format-standard","has-post-thumbnail","category-totalenergies","tag-renewable-energy","tag-renewables","tag-shell","tag-totalenergies"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/60730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/comments?post=60730"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/posts\/60730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media\/60731"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/media?parent=60730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/categories?post=60730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/france\/wp-json\/wp\/v2\/tags?post=60730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}