Rothschild & Co Advises Shell on Sale of European Renewables Business to TotalEnergies as KKR Acquires Stake in Renewable Portfolio
Rothschild & Co’s Global Advisory division acted as joint financial adviser to Shell on the sale of its European onshore renewables business to TotalEnergies, covering operations and development projects across Italy, the Netherlands, the UK and Spain.
TotalEnergies has agreed to acquire Shell’s renewable energy portfolio comprising approximately 4 GW of solar, wind and battery storage projects, including 500 MW of assets in operation or under construction and a 3.5 GW development pipeline.
The transaction strengthens TotalEnergies’ integrated power strategy in Europe and expands its renewable energy presence in key markets.
In parallel, TotalEnergies has entered into an agreement with KKR for the sale of a 50% stake in a 1.2 GW portfolio of developed onshore solar and wind assets across Germany, Spain, France and Poland.
The transaction values the portfolio at an enterprise value of €1.8 billion, while TotalEnergies will retain a 50% ownership stake and continue operating the assets following completion.
The deals highlight Rothschild & Co’s leading role in renewable energy transactions and KKR’s continued investment focus on large-scale sustainable infrastructure assets.

