TotalEnergies Swaps Renewable Assets with KKR and Shell

TotalEnergies restructured its European energy holdings by executing two simultaneous deals involving KKR and Shell. The energy company sold a 50% stake in its European onshore solar and wind assets to the private-equity firm KKR. This 1.2 gigawatt portfolio operates across Germany, Spain, France, and Poland, and is valued at 1.8 billion euros, or approximately $2.08 billion, including debt.

In a separate move to expand its capacity, TotalEnergies agreed to acquire a 4 gigawatt renewables portfolio from Shell. This acquisition consists primarily of solar, wind, and battery storage projects located in Italy, the United Kingdom, and Spain.