Shell has entered into a Sale and Purchase Agreement (SPA) with TotalEnergies for the divestment of its European onshore renewables portfolio, marking another step in the company’s portfolio optimisation strategy within the power sector.
The transaction includes a portfolio of operational and development-stage renewable energy assets located across Italy, the Netherlands, Spain, and the United Kingdom. According to Shell, the portfolio comprises approximately 0.5 GW of combined renewable generation capacity in operation and under development, along with a pipeline of future renewable energy projects.
The sale forms part of Shell’s ongoing approach to actively managing its power portfolio by reallocating capital toward areas that align with its strategic priorities. The company stated that it is focusing its investments on businesses where it has differentiated capabilities, including asset-backed power trading, flexible generation capacity, and customer-focused energy solutions.
Machteld de Haan, president of Downstream, Renewables and Energy Solutions at Shell, said the agreement reflects the company’s continued efforts to optimise its power portfolio while recycling capital into areas that offer greater strategic value.
The divestment is subject to customary regulatory approvals before completion.
The transaction represents another significant portfolio move within Europe’s renewable energy market, with TotalEnergies expanding its renewable asset base while Shell continues to reshape its power business through targeted capital allocation. The portfolio spans several of Europe’s key renewable energy markets, including solar and wind assets at various stages of development and operation.
The agreement also reflects the ongoing trend among major energy companies to refine their renewable energy portfolios, balancing ownership of generation assets with broader strategies focused on integrated energy solutions, electricity trading, and customer-centric energy services.
For more information visit www.shell.com
