TotalEnergies and KKR add 700 MW of U.S. solar assets to joint venture in $1.2 bn deal
TotalEnergies SE and KKR agreed to expand their U.S. renewable‑energy joint venture by adding three utility‑scale solar projects in Texas and Ohio. The assets provide 700 MW of capacity and are valued at $1.2 billion. The transaction is expected to close in 2026, with commercial operation targeted for the first quarter of 2027, and TotalEnergies will continue to operate the plants.
Why it matters
The addition raises the joint‑venture’s total capacity to about 2.1 GW, enhancing TotalEnergies’ U.S. renewable footprint and potentially increasing future cash flows from electricity sales. The $1.2 bn investment will be reflected on TotalEnergies’ balance sheet once the deal closes in 2026.
Key facts
- 1The agreement adds a 700 MW solar portfolio to the joint venture. tradingview.com
- 2The portfolio is valued at $1.2 billion (enterprise value). finance.yahoo.com
- 3The three projects are located in Texas and Ohio. investing.com
- 4Commercial operation is expected by the first quarter of 2027. investing.com
- 5The transaction is expected to close in 2026, subject to customary conditions. finance.yahoo.com
- 6TotalEnergies will continue to operate the assets after the transaction. stocktitan.net
Summary written by AlphAI AI Desk from 20 of 42 sources. Not investment advice. Figures are as stated by the linked sources.