{"id":61317,"date":"2026-08-04T14:09:36","date_gmt":"2026-08-04T14:09:36","guid":{"rendered":"https:\/\/www.europesays.com\/france\/61317\/"},"modified":"2026-08-04T14:09:36","modified_gmt":"2026-08-04T14:09:36","slug":"shell-divests-european-renewables-to-totalenergies-focus-shifts-back-to-oil-and-gas-etenergyworld","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/france\/61317\/","title":{"rendered":"Shell Divests European Renewables to TotalEnergies: Focus Shifts Back to Oil and Gas, ETEnergyworld"},"content":{"rendered":"

\"<p>ShellShell will sell its onshore European renewables business to TotalEnergies as part of its strategy to sharpen focus on upstream operations and energy trading. Shell<\/a> is selling its onshore European renewables<\/a> unit to TotalEnergies<\/a>, the companies said Monday, as the \u200cBritish oil \u2060major continues \u2060to scale back its low-carbon investments to focus on upstream operations and trading.<\/p>\n

Shell said the deal agreed with TotalEnergies includes assets across Italy, the Netherlands, Spain and the UK, but did not disclose the sale price.<\/p>\n

Since taking over as Shell CEO three years ago, Wael Sawan has shifted focus away from renewables, seeking better returns in oil and gas projects.<\/p>\n

Last week, the group reported that second-quarter profit more than doubled from a year earlier to their second highest on record, helped by higher \u2060energy prices \u200cand stronger liquefied natural gas trading.<\/p>\n

Adjusted earnings for its renewables and energy solutions segment was $79 million, versus a loss of $9 million during the same period a year earlier.
Shell \u2060has 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

UK peer BP is also refocusing on its oil and gas businesses after scaling back its investment in renewable energy.<\/p>\n

Shell’s deal with TotalEnergies, expected to complete by the end of 2026, includes a portfolio of about 500 megawatts of solar and wind assets<\/a> in operation or under construction, mainly located in Italy and the Netherlands, and a 3.5 gigawatt-pipeline of solar, wind and battery storage \u200cprojects in Italy, the United Kingdom and Spain, Total said.<\/p>\n

As of the end of the second quarter, Shell had about 4.5 gigawatts of renewable power generation capacity in operation.<\/p>\n

TotalEnergies also announced on Monday \u2060a 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 \u20ac1.8 billion ($2.08 billion).
Total said 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

Total’s European renewables asset portfolio amounts to almost 10 gigawatts of gross installed capacity or capacity under construction, and 27 gigawatts under development. <\/p>\n

Published On Aug 3, 2026 at 03:49 PM IST<\/p>\n

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