'optimising the electricity portfolio'

Shell is selling its European solar and wind farms to TotalEnergies

Volgens Shell passen de verkopen in de langetermijnstrategie waarin geld wordt vrijgemaakt voor andere investeringen. Foto: Shell, 2026

Energy giant Shell has signed a sale agreement with TotalEnergies for the sale of its European onshore renewable energy portfolio. The oil company announced this on its website.

The portfolio includes solar farms, onshore wind farms and renewable energy storage facilities. The portfolio comprises both projects in the development phase and operational assets in Italy, the Netherlands, Spain and the United Kingdom. Some of these are operations that are already in use, whilst others are projects under development or in the planning stage.

Shell says that these assets collectively account for around 0.5 gigawatts of power generation. That is approximately 12 per cent of its total energy projects. The oil company states that the sales are in line with its long-term strategy. Shell aims to free up funds for other investments. In recent years, the company has been moving further away from its ambitions in the field of renewable energy.

Focus

“This agreement reflects Shell’s ongoing focus on actively managing and optimising its electricity portfolio, in line with the strategy set out at the 2025 Capital Markets Day,” says Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell. “We are reallocating capital and prioritising areas where we have distinctive capabilities and can create the most value in the long term, including through electricity trading linked to physical assets and customer-focused energy solutions.”

The transaction is subject to regulatory approval and is expected to be completed by the end of 2026. Shell has not disclosed the sale price of the businesses.

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This article was automatically translated from the original Dutch into British English.

Author: Paul Blonk

Source: Mobility Energy

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