Markets
TotalEnergies and KKR expand US renewable energy partnership
TotalEnergies and investment firm KKR have expanded their American joint venture by adding 700MW of solar assets.
Key points
- The 50/50 joint venture capacity increases to 2.1GW following the addition.
- The portfolio includes three utility-scale solar installations located in Texas and Ohio.
- TotalEnergies will maintain operational control of the assets after the transaction concludes.
Transaction details
TotalEnergies and global investment firm KKR have agreed to incorporate a 700-megawatt solar portfolio into their existing United States joint venture, according to Power Technology and Egypt Oil & Gas reports. This expansion lifts the total capacity of the 50/50 partnership from 1.4 gigawatts to 2.1 gigawatts.
The newly included assets comprise three utility-scale solar developments situated in Texas and Ohio. The portfolio carries an enterprise value of $1.2bn. Commercial operations for these projects are projected to commence by the first quarter of 2027.
Operations and marketing
Power Technology reported that the electricity generated by these facilities is either already secured through third-party contracts or will be commercialised directly by TotalEnergies.
TotalEnergies will continue to manage the assets upon completion of the deal. Finalisation is anticipated in 2026, pending standard regulatory approvals and closing conditions.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Exchange rates and the cost of capital shape every energy project, especially in emerging markets where equipment is priced in dollars.
₦1,331.28 per US dollar, reference rate todayCountries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
