Majors are consolidating Europe’s renewables pipeline — and capital keeps flowing to Iberia.
Two big-ticket moves this week confirm where developer and financing muscle is heading, alongside a longer-term African growth signal worth watching.
What we’re tracking today:
TotalEnergies is acquiring Shell’s entire European onshore renewables business — 500MW operating/under construction plus a 3.5GW solar, wind and storage pipeline across Italy, the Netherlands, Spain and the UK, alongside a 50% stake sale in a developed portfolio to KKR. Terms undisclosed, but the scale confirms majors are still buying into renewables, not exiting.
Sonnedix secured €730m in financing to build out roughly 540MW of solar plus two battery storage assets across France, Italy, Portugal and Spain. Fresh proof that Iberian solar-plus-storage still commands institutional capital at scale.
Sub-Saharan Africa’s solar, wind and battery capacity is projected to more than double to 29GW by 2030, from 13GW in 2025, per BloombergNEF — with South Africa, Nigeria and Kenya leading. The growth curve investors in African renewables are underwriting against.
At Persimmon Investments, that’s the map we invest against.