Big oil is still buying into renewables — and private equity is right behind it.
TotalEnergies and KKR just showed how deep that appetite runs, with Iberia in the mix on both sides of the ledger.
What we’re tracking today:
TotalEnergies has agreed to acquire Shell’s entire European onshore renewables business — a 4GW portfolio of solar, wind and BESS across Italy, the Netherlands, the UK and Spain — while selling KKR a 50% stake in a separate 1.2GW portfolio (Germany, Spain, France, Poland) at an enterprise value of €1.8bn. Two deals, one day: strategics consolidating scale, PE buying into cash-flowing assets.
TotalEnergies swoops for Shell onshore business | Other News | reNEWS
Sonnedix secured €730m to refinance and expand solar and BESS assets across France, Italy, Portugal and Spain, including two new battery projects. Hybridisation — storage paired with existing solar — is now the default financing thesis in Iberia.
Sonnedix secures €730m Southern Europe financing | Finance | reNEWS
North Star, the offshore wind service-vessel operator, secured £275m of fresh debt from an expanded lender group, on top of £750m already committed to its fleet. Lenders keep backing renewables infrastructure even as economics tighten elsewhere.
North Star secures £275m fleet financing | Offshore Wind | reNEWS
At Persimmon Investments, that’s the map we invest against: strategics and PE chasing the same assets, storage now table stakes, lenders still funding the build-out.