TotalEnergies has announced two major renewable energy transactions in Europe that strengthen its Integrated Power strategy and support its long-term growth in selected deregulated electricity markets. The company has signed an agreement to acquire a 4 GW renewable energy portfolio from Shell and a separate agreement to sell a 50 percent stake in a 1.2 GW renewable asset portfolio to global investment firm KKR.
The acquisition from Shell includes its entire onshore renewables business in Europe, adding 500 MW of solar and wind projects that are either operational or under construction. Most of these assets are located in Italy and the Netherlands. The agreement also includes a development pipeline of approximately 3.5 GW of solar, wind and battery energy storage projects spread across Italy, the United Kingdom and Spain. Once the transaction is completed, TotalEnergies will become the sole owner of the portfolio. The deal is expected to close by the end of 2026, subject to regulatory approvals.
The acquisition will strengthen TotalEnergies’ renewable power business in four of Europe’s key electricity markets and expand its Integrated Power portfolio. Following the addition of these assets, the company will have nearly 10 GW of renewable generation capacity either in operation or under construction across Europe, along with around 27 GW of projects under development.
Alongside the acquisition, TotalEnergies has also entered into an agreement with an insurance account managed by KKR for the sale of a 50 percent stake in a portfolio of onshore solar and wind assets with a combined capacity of 1.2 GW. The portfolio has an enterprise value of approximately €1.8 billion.
The renewable assets included in the transaction are located across Germany, Spain, France and Poland. Electricity generated from these projects is either already being supplied to third-party customers or will continue to be marketed by TotalEnergies after the completion of the transaction.
The company said the agreement reflects its strategy of bringing financial partners into mature renewable projects while retaining an active role in operations and electricity marketing. This approach enables TotalEnergies to recycle capital into new renewable energy developments while continuing to expand its clean energy portfolio.
The two transactions demonstrate TotalEnergies’ continued investment in renewable power generation and its commitment to building a balanced energy business. By expanding its presence in Europe’s major electricity markets and optimizing capital deployment, the company aims to accelerate the growth of its renewable energy operations while supporting the transition towards lower-carbon power generation across the region.
TotalEnergies is a global integrated energy company that produces and markets oil, natural gas, renewable electricity, biofuels, hydrogen and other low-carbon energy solutions. Operating in more than 100 countries, the company is expanding its portfolio of renewable power generation and energy storage projects while investing across the entire electricity value chain. Through its Integrated Power strategy, TotalEnergies combines renewable energy production, flexible power generation, storage and electricity trading to support the global transition to cleaner and more sustainable energy systems.
