[REVISION HISTORY]

TotalEnergies 2026 renewable portfolio moves

Updated 9 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-10 07:51 UTC → 2026-08-24 12:07 UTC · added ~~removed~~

In July 2026, TotalEnergies completed an €86.4 million share buy-back and sold 170 MW of rooftop solar projects to free capital for utility-scale renewables. Over the twelve months leading to March 2026, the group added 8 GW of gross renewable capacity, reaching a total of 35 GW. In August 2026, ~~the company~~ TotalEnergies announced two linked transactions. It agreed to acquire Shell’s entire European onshore renewable ~~portfolio in Europe—approximately~~ portfolio—approximately 4 GW of solar and wind assets, including 500 MW of operating or under-construction ~~solar and wind assets, primarily~~ projects in Italy and the ~~Netherlands, alongside~~ Netherlands and a 3.5 GW ~~development~~ pipeline in Italy, the United Kingdom, and Spain. ~~A follow-up report on 7 August confirmed that~~ Shell is ~~selling its entire European onshore portfolio, totaling about 4 GW,~~ exiting direct renewable investments to ~~TotalEnergies, with the deal~~ refocus on oil, gas, and energy-trading activities. The acquisition, supported by legal advisor Clifford Chance, is expected to close by the end of 2026 pending regulatory approval. ~~Shell indicated it is refocusing on oil, gas, and energy-trading activities, exiting direct renewable investments.~~ Simultaneously, TotalEnergies will sell a 50% stake in a 1.2 GW onshore wind and solar portfolio spanning Germany, Spain, France, and Poland to KKR for an enterprise value of €1.8 billion, while retaining operational control. Upon completion, TotalEnergies’ European onshore renewable capacity is projected to total roughly 9-10 GW installed or under construction, supported by an additional 27 GW pipeline. As part of its broader strategic shift, Shell also completed the sale of the German residential energy storage company sonnen to investment firm Tiven, a move expected to result in a loss of several hundred million euros for Shell.

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