Shell divests sonnen as TotalEnergies expands renewable footprint

Shell has completed the sale of the German residential energy storage company sonnen to the investment firm Tiven. The transaction follows a three-year search for a buyer and is expected to result in a loss of several hundred million euros for Shell, which originally acquired a 100% stake in sonnen for approximately €500 million in 2019.

This divestment is part of a broader strategic shift by Shell to offload clean energy assets and concentrate capital on other business areas. Recent moves include the sale of Sprng Energy to Aditya Birla Renewables and the sale of a 4 GW European onshore renewables portfolio to TotalEnergies.

In contrast, TotalEnergies is expanding its presence in the renewable sector. The company has built over 37 GW of gross renewable capacity worldwide and continues to grow its European footprint through development and acquisitions, such as the recent purchase of Shell’s onshore renewables portfolio. This divergence highlights differing corporate strategies regarding the economic risks and regulatory dependencies of renewable energy investments in Europe.