| Client | TotalEnergies |
|---|---|
| Transaction | Acquisition of Shell’s European onshore renewables business |
| Counterparty | Shell |
| Sector | Energy and infrastructure – renewable energy |
| Geography | Italy, the Netherlands, the United Kingdom and Spain |
| Status | Signed, subject to regulatory approval |
| Date | 3 August 2026 |
| Forvis Mazars services | Transaction services and support in the negotiation of financial terms |
| Deal value | Not publicly disclosed |
TotalEnergies signed an agreement to acquire Shell’s European onshore renewables portfolio, comprising 4 GW of renewable energy assets and projects.
The portfolio includes 500 MW of solar and wind assets in operation or under construction and a 3.5 GW pipeline of solar, wind and battery storage projects across Italy, the Netherlands, the United Kingdom and Spain.
The acquisition forms part of TotalEnergies’ Integrated Power strategy and will strengthen its power generation activities across four key European markets following completion.
Forvis Mazars was selected to work alongside TotalEnergies on the transaction, bringing together transaction expertise with a strong understanding of the renewable energy sector and the financial and operational complexities associated with large-scale portfolios.
Our teams have provided transaction services and support in the negotiation of the financial terms and continue to work with TotalEnergies as the transaction progresses towards completion.
The appointment built on a long-standing relationship with TotalEnergies and reflected the increasingly strategic nature of the work delivered together.
“We were pleased to be selected by TotalEnergies for this significant European renewables transaction. The mandate brought together our transaction expertise and deep understanding of the energy sector to help navigate the financial and operational complexities of a portfolio of this scale.”
Firas Abou Merhi Partner and Group Head of Financial Advisory, Forvis Mazars
Expert advice throughout the life cycle of the deal.
TotalEnergies has signed an agreement with Shell to acquire its entire onshore renewables business in Europe, including 500 MW of solar and wind assets in operation or under construction, mainly located in Italy and the Netherlands, and a 3.5 GW pipeline of solar, wind and battery storage projects in Italy, the United Kingdom and Spain.
Shell has signed a Sale and Purchase Agreement (SPA) with TotalEnergies for the sale of its European onshore renewables portfolio.
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