Mergers & Acquisitions ·
TotalEnergies acquires Shell's European onshore renewables business for undisclosed sum while selling 50% stake to KKR for €1.8B
TTETotalEnergies SE
TotalEnergies signed agreements to acquire Shell’s entire onshore renewables business in Europe, comprising 500 MW of operational or under-construction solar and wind assets and a 3.5 GW pipeline, for full ownership expected by end-2026. Simultaneously, it agreed to sell a 50% stake in a developed 1.2 GW European renewables portfolio to KKR for an enterprise value of €1.8 billion, with completion also targeted for 2026. The company completed the transfer of its 10% interest in Arctic LNG 2 to NordLine, retaining rights to approximately US$1.3 billion in shareholder loans subject to sanctions. Regular weekly share repurchase disclosures were also filed. TotalEnergies is a global integrated energy company producing and marketing oil, gas, renewables, and electricity.