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Shell Sells Renewable Assets to TotalEnergies | Amsterdam News
Description
Shell is quietly pivoting back to fossil fuels by offloading its European onshore renewable energy assets—including wind and solar farms in the Netherlands, Italy, Spain, and the UK—to TotalEnergies in a deal whose price remains undisclosed. The 0.5 gigawatt portfolio, enough to power a million homes, includes operational, developmental, and future projects, reflecting Shell’s strategy to reallocate capital for maximum long-term returns—backed by a recent profit surge from rising oil prices. Meanwhile, TotalEnergies is also scaling back renewables, selling half its European solar and wind projects to KKR.
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