Shell to sell European onshore renewables portfolio to TotalEnergies

This agreement reflects Shell’s continued focus on actively managing and high-grading its power portfolio

Shell has signed a Sale and Purchase Agreement (SPA) with TotalEnergies for the sale of its European onshore renewables portfolio.

The portfolio includes development-stage and operational assets across Italy, the Netherlands, Spain and the UK.

“This agreement reflects Shell’s continued focus on actively managing and high-grading its power portfolio in line with the strategy set out at Capital Markets Day 2025,” said Machteld de Haan, President, 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 is subject to regulatory approvals and is expected to complete by the end of 2026.