ZAWYA: TotalEnergies, KKR add 700 MW of solar capacity to US joint venture

TotalEnergies and KKR will expand their joint venture by adding 700 MW of renewable power capacity, with terms reflecting higher current asset valuations. The deal builds on their 2025 partnership.

TotalEnergies SE (TTE) reported share repurchases from October 5 to 9, 2026, totaling 2,645,882 shares at an average price of €76.27 per share, spending €201.81 million. The company operates globally in energy production and distribution, with activities in oil, gas, and renewables.

TotalEnergies SE repurchased 2.65 million shares for €202 million from October 5 to 9, 2026, at an average price of €76.27 per share, according to the company. The purchases occurred across multiple markets, including XPAR, CEUX, TQEX, and AQEU.

KKR & Co. Inc. (KKR) agreed to acquire Gen II Fund Services for $5.1 billion, including debt, from Hg, General Atlantic, and other investors. Gen II provides services to private-market managers, serving over 275 firms with $2 trillion in capital. The acquisition aims to expand KKR's private equity portfolio and is expected to close in 2027. KKR plans to invest in Gen II's technology and AI solutions, but the deal's financial returns and costs remain uncertain.

TotalEnergies and KKR agreed to expand their U.S. renewables joint venture by adding 700 MW of solar assets, valued at $1.2 billion. The portfolio includes three projects in Texas and Ohio, set to operate by Q1 2027. The deal increases the venture's total capacity to 2.1 GW, with TotalEnergies operating the assets. The transaction is expected to close in 2026, subject to conditions.

Vallourec has won a contract from TotalEnergies to supply 16,000 tons of tubular products for the Absheron gas field in Azerbaijan. The deal includes OCTG and 159 km of line pipe, with Vallourec providing local support. The field aims to produce 6 billion cubic meters of gas annually. Financial details were not disclosed, according to Vallourec.