
TotalEnergies Agrees to Acquire Shell Renewables and Sell 50% Stake
TotalEnergies has agreed to acquire Shell’s 4GW European onshore renewables business and sell a 50% stake in a separate 1.2GW portfolio to an insurance account managed by KKR.

TotalEnergies has agreed to acquire Shell’s 4GW European onshore renewables business and sell a 50% stake in a separate 1.2GW portfolio to an insurance account managed by KKR.

TotalEnergies booked a $700 million impairment in Q4 2025 mainly tied to offshore wind within its Integrated Power segment. Total impairments reached $900 million, while net renewable generation rose to 8.1 TWh and the portfolio increased to 19 GW.
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