Europe’s energy sector has just experienced an almighty shake up.
On the morning of 3 August, a series of deals were announced which saw hundreds of megawatts of renewable energy change hands.
First, TotalEnergies agreed to purchase Shell’s entire onshore renewables business across the continent for an undisclosed fee.
The deal will see the French energy major acquire around 500MW generation capacity, as well as a 3.5GW pipeline of solar, wind and battery storage projects.
Then, in a separate deal announced at the same time, TotalEnergies sold a 50% stake of one of its own renewable energy portfolios (with a capacity of around 1.2GW) to global investment firm KKR at a price of €1.8bn (US$2.1bn).
