Shal sells Europe renewable unit
British company Shell has announced the sale of its onshore renewable energy unit in Europe to Total Energies, in a move aligned with its strategy to reduce investments in low-carbon energy sources and focus on oil and gas. The deal includes assets in Italy, the Netherlands, Spain, and the United Kingdom, with a capacity of about 500 megawatts from solar and wind projects, as well as a 3.5 gigawatt pipeline. The transaction is expected to be completed by the end of 2026, while Total is aiming to build its renewable energy capabilities through the acquisition of stakes in projects worth up to €1.8 billion and intends to profit by retaining half of its shares.
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