Shell has signed a binding Sale and Purchase Agreement (SPA) with TotalEnergies to divest its European onshore renewables portfolio.
The portfolio encompasses both operational assets and development-stage projects spread across four major markets: the UK, Italy, Spain, and the Netherlands.
The divestment forms part of Shell’s strategy to rationalise its power footprint following its 2025 Capital Markets Day directives.
“This agreement reflects Shell’s continued focus on actively managing and high-grading its power portfolio,” said Machteld de Haan, President of Downstream, Renewables and Energy Solutions at Shell. “We are recycling capital and prioritising areas where we have differentiated capabilities and can create the most value over time, including through asset-backed power trading and customer-focused energy solutions.”
The transaction remains subject to customary regulatory approvals and is anticipated to complete by the end of 2026.
