TotalEnergies has announced the signing of two renewable energy transactions in Europe. Under the first transaction, the company will acquire Shell’s entire onshore renewables business in Europe, including 500 MW of operating and under-construction solar and wind assets and a 3.5 GW development pipeline across Italy, the UK and Spain.
Additionally, under the second transaction, TotalEnergies has agreed to sell a 50 percent stake in its 1.2 GW European onshore solar and wind portfolio to an insurance account managed by KKR. The portfolio spans Germany, Spain, France and Poland, and has an enterprise value of €1.8 billion. TotalEnergies will retain the remaining 50 per cent stake and continue operating the assets upon completion of the transaction. Both the transactions are expected to close in 2026, subject to regulatory and customary approvals.
In July 2026, TotalEnergies completed the divestment of its 170 MW distributed solar portfolio, comprising mainly rooftop installations across seven European countries (France, Belgium, the Netherlands, Spain, Portugal, the United Kingdom and Luxembourg). The portfolio has been divested to Amarenco and AMPYR Distributed Energy. The divested assets will continue to be operated by Amarenco and AMPYR Distributed Energy.