Renewables in Europe: TotalEnergies Acquires Shell’s Renewables Business and Sells a 50% Stake in a Portfolio of Developed Assets to KKR
TotalEnergies agreed to acquire Shell's onshore renewables business in Europe, a 4 GW portfolio including 500 MW of operating or under-construction assets and a 3.5 GW development pipeline across Italy, the UK, and Spain. Concurrently, the company announced the sale of a 50% stake in a 1.2 GW developed portfolio to an insurance account managed by KKR for an enterprise value of €1.8 billion, retaining the remaining stake and operatorship.
Key figures
- Kkr portfolio gw
- 1.2 GW
- Roace target 2030
- 12%
- Shell pipeline gw
- 3.5 GW
- Shell operating mw
- 500 MW
- Total renewables gw
- 37 GW
- Kkr enterprise value
- €1.8 billion
- Shell portfolio total gw
- 4 GW
AI analysis
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