TotalEnergies has agreed to acquire all of Shell's onshore renewable energy operations in Europe, including 500 MW of operating and under-construction solar and wind assets plus a 3.5 GW pipeline of solar, wind and storage projects, with the deal expected to close by end-2026 pending regulatory approval. Separately, TotalEnergies is selling a 50% stake in 1.2 GW of mature onshore solar and wind assets in Europe to KKR's insurance funds, valuing the portfolio at 1.8 billion euros, while retaining half the equity and continuing to operate the assets after closing.