Shell sells European onshore renewable assets to TotalEnergies

Shell has agreed to sell its entire onshore renewable energy portfolio in Europe to French energy company TotalEnergies. According to an announcement released by the oil and gas major, the transaction includes European solar and wind farm projects located on land.

The deal marks a strategic move as Shell continues to adjust its capital expenditure across energy sectors, while TotalEnergies expands its portfolio of European green power generation assets. Specific financial terms and completion timelines for the asset transfer were not immediately disclosed in the announcement.

Sources: NOS.