Shell has agreed to sell its European onshore renewables business to TotalEnergies as the oil giant continues to scale back its investments in green energy. The deal contains a portfolio of around 0.5 gigawatts of renewable energy capacity, as well as a pipeline of future projects. The sale of Shell's European onshore renewable portfolio marks a further departure from its previous strategy of diversifying into green electricity. Under chief executive Wael Sawan, Shell has pivoted away from low-carbon investments in favour of its higher-returning fossil fuels business. The divestment of its European green energy business follows the sale of its India-based renewable unit, Spring Energy, in June, after buying the firm in 2022 for $1.55 billion.