TotalEnergies, KKR agree on $1.2B solar asset deal

TotalEnergies and KKR, a leading global investment firm, announced the signing of an agreement to add 700 MW to the 50/50 joint venture (JV) they created in the U.S. in 2025, which currently holds 1.4 GW.

The transaction covers a portfolio of three utility-scale solar assets located in Texas and in Ohio, which are expected to reach their commercial operation dates by the first quarter of 2027, CE Report informs via TotalEnergies' official website.

The electricity produced by these assets is already sold to third parties or will be marketed by TotalEnergies. The transaction reflects an enterprise value of $1.2 billion for the portfolio.

TotalEnergies will continue to operate the assets after completion of the transaction, which is expected in 2026, subject to customary conditions.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR 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. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries.

TotalEnergies and Electricity

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of June 2026, TotalEnergies holds more than 37 GW of gross renewable power generation capacity and aims to achieve over 100 TWh of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. The company's more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

Photo TotalEnergies