TotalEnergies is expanding its joint venture with KKR in the United States with an additional renewables portfolio valued at $1.2 billion, the company said on Monday. The companies signed a joint venture in the US in 2025 that currently holds 1.4 GW.
The deal covers a portfolio of three utility-scale solar assets located in Texas and Ohio, adding 700MW to the joint venture. The solar assets are expected to reach commercial operation by the first quarter of 2027.
The portfolio carries an enterprise value of $1.2 billion, with its power either already contracted to third parties or scheduled to be marketed by TotalEnergies. TotalEnergies will continue to operate the assets after the transaction closes, which is expected in 2026, subject to customary conditions.
About KKR
KKR is a leading global investment firm offering alternative asset management, as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient, disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. It sponsors Investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.
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