TotalEnergies and KKR Expand US Solar Joint Venture to 2.1 GW
TotalEnergies and KKR have agreed to expand their 50/50 US solar joint venture by adding 700 megawatts of capacity. The expansion increases the joint venture's total portfolio from 1.4 gigawatts to 2.1 gigawatts, carrying an enterprise value of $1.2 billion.
The deal includes three utility-scale solar developments located in Texas and Ohio. Power produced from these assets has either been contracted to third-party buyers or will be marketed directly by TotalEnergies, which will continue to operate the facilities.
The transaction is expected to close in 2026, subject to standard closing conditions. Commercial operations across the three solar projects are scheduled to start by the first quarter of 2027.
Key points
- TotalEnergies and KKR are adding 700 MW of solar capacity to their 50/50 US joint venture.
- The expansion increases the joint venture's total solar portfolio from 1.4 GW to 2.1 GW.
- The portfolio represents an enterprise value of $1.2 billion across three projects in Texas and Ohio.
- The transaction is slated to complete in 2026, with commercial operations targeted for Q1 2027.
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How much solar capacity are TotalEnergies and KKR adding in the US?
TotalEnergies and KKR are adding 700 megawatts of solar capacity to their US joint venture, expanding its overall portfolio from 1.4 gigawatts to 2.1 gigawatts.
Where are the new solar projects located?
The agreement covers three utility-scale solar developments located in Texas and Ohio.
When will the expanded solar projects begin operations?
The deal is expected to close in 2026, with commercial operations for the three solar projects slated to begin by the first quarter of 2027.