The Pulse Today
BREAKING
Sajib Pledges Aid for 50,000 Flood-Affected People in SonargaonMP Azharul Islam Mannan Distributes Relief Funds to Needy Families in SonargaonParliament Proposes Anti-Gambling Bill with Maximum 7-Year Prison PenaltyOpenAI Unveils 'Schedule' Feature to Boost Task Management in AI ChatbotPrime Minister Tareq Rahman Arrives in Dalian, China for Economic ForumEurope Confronts Intense Heatwave; Conditions Predicted to DeteriorateGold Prices Rise Again in Bangladesh Amid Global Market IncreaseSpaceX's Nasdaq Debut Values Company at Over $2 Trillion, Surpassing AmazonStudy Reveals AI Data Centers Contribute to Local Temperature IncreasesNarayanganj BNP Youth Wing Holds Rally to Welcome New Central CommitteeUS Military Reports Munitions Shortfall Due to Increased Costs from Iran TensionsSaudi Arabia Pledges Decisive Action Against Houthi Attacks on Civilians and InfrastructureKim Jong Un Vows Unwavering Support to Putin in Letter Amid Ukraine ConflictUS Implements New Tariffs on Canadian Cheeses and Motorboats, Exempts Toilet Paper and CementSri Lanka's Iconic Beach Wadiya Restaurant Faces Demolition Under Coastal Clean-Up OrderIDEA Report: Decline in US Democracy Indicators Emboldens Global AuthoritariansUS Supreme Court Blocks Trump's Attempt to Restrict Mail-In VotingPrince Harry and Meghan Switch Children's School Due to Heightened Security ConcernsSunderland's European Journey: A Stunning Rise from Struggle to SuccessInquiry Reveals New Zealand Agencies Overlooked Red Flags in Child Abduction CaseUS Judge Temporarily Halts New Visa Rules for Foreign Students and JournalistsAI Debate: Doomers Warn of Dangers, Boosters Push for Rapid ProgressNATO Intercepts and Downs Drone Over Lithuania Amid Heightened TensionsDodgers Secure Playoff Spot, Eyeing Historic Third Straight World Series Win'Widow's Bay' and 'The Pitt' Triumph at the 78th Emmy Awards

TotalEnergies Set to Acquire Shell's European Renewable Energy Assets

French energy giant TotalEnergies has agreed to purchase Shell's European onshore renewable energy businesses.

By Staff Correspondent
Share
TotalEnergies says to buy Shell's wind, solar business in Europe | Business
BSS

TotalEnergies, a leading French energy company, has announced the acquisition of Shell's European onshore renewable energy operations. This strategic move will significantly enhance TotalEnergies' renewable energy capacity in Europe, adding around four gigawatts of solar and wind power capacity. The deal, which encompasses projects in Italy, the Netherlands, Britain, and Spain, is expected to bolster TotalEnergies' position in the renewable energy sector.

As part of the transaction, TotalEnergies will also divest a 50 percent stake in its portfolio of wind and solar assets across Germany, Spain, France, and Poland to the US investment firm KKR. The portfolio, valued at 1.8 billion euros, comprises around 1.2 gigawatts of electricity production. These transactions are part of TotalEnergies' strategy to optimize capital allocation in renewables.

Source: BSS

FAQ

What is the value of the deal between TotalEnergies and Shell?
The value of the deal has not been disclosed by TotalEnergies.
Which countries will be impacted by this acquisition?
The acquisition will impact projects in Italy, the Netherlands, Britain, and Spain.
How many gigawatts of electricity production does this deal involve?
The deal represents around four gigawatts of electricity production.
What is the value of the portfolio TotalEnergies is selling to KKR?
The portfolio of wind and solar assets being sold to KKR is valued at 1.8 billion euros.

Topics

Comments

Related stories

More in business

See all →

Latest stories