TotalEnergies to acquire Shell's wind and solar power businesses in Europe

French oil company TotalEnergies announced on Monday that it has signed an agreement with British energy company Shell. The agreement covers the acquisition of Shell's renewable energy production businesses in Europe. The deal includes wind and solar power generation assets currently owned by Shell.

Shell is a UK energy company, while TotalEnergies is a French oil company. The announcement was made on Monday. Under the signed agreement, TotalEnergies will take over Shell's wind and solar energy production businesses located in Europe.

The agreement means Shell will exit its renewable energy production operations in Europe, while TotalEnergies will expand its presence in the sector. Financial terms of the transaction have not been disclosed, but both companies have confirmed the signing of the deal. As a result, TotalEnergies will acquire Shell's renewable energy production projects in the European market.