TotalEnergies announced an agreement on August 3, 2026 to acquire Shell’s European onshore renewables business. The roughly 4 GW portfolio includes 500 MW operating or under construction and a 3.5 GW development pipeline of solar, wind and battery projects.
A separate agreement would sell 50% of a 1.2 GW portfolio to an insurance account managed by KKR. Its stated enterprise value is €1.8 billion, which is not the price of the 50% stake. The release describes signed agreements.
In an IEA scenario, electricity could cost-effectively supply 33 percent of final energy use by 2035; projected import savings are not realized outcomes.
The utility’s long-term plan projects lower emissions despite rising electricity demand; its solar, battery and reverse-osmosis targets are not completed outcomes.
Emirates News Agency (WAM), citing Emirates Water and Electricity Company (EWEC)4 min read
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