Global energy firm Shell has agreed to sell its European onshore renewables business to TotalEnergies, marking another step in the energy company's strategy to concentrate investment on businesses delivering higher financial returns. The acquisition expands TotalEnergies' renewable electricity portfolio while advancing Shell's ongoing programme of portfolio rationalisation under its "Value over Volume" strategy. TotalEnergies Expands European Renewable PlatformAlongside the Shell acquisition, TotalEnergies announced that it had agreed to sell a 50% interest in a separate 1.2 GW European renewable portfolio to investment firm KKR. Following completion of the Shell acquisition, TotalEnergies said its European renewable portfolio will approach 10 GW of gross installed capacity or projects currently under construction, strengthening its Integrated Power business across key European electricity markets. While Shell continues reducing parts of its renewables portfolio, TotalEnergies has maintained investment in electricity generation, combining acquisitions with partnerships that share capital requirements while preserving operational control.