KKR to Acquire EDF Power Solutions' North American Renewable Energy Business for $4.2 Billion
The deal positions KKR as a major owner of U.S. renewable energy capacity, encompassing solar, wind, and battery storage assets.
Private equity firm KKR has reached an agreement to acquire the North American renewable energy operations of EDF Power Solutions for approximately $4.2 billion.
This acquisition includes a significant portfolio of renewable energy assets across the United States and Canada. The business ranks among the top 10 U.S. renewable capacity owners and operates solar, wind, and battery storage facilities. The transaction marks a substantial expansion for KKR in the renewable energy sector.
EDF Power Solutions is the U.S. arm of the French state-owned utility EDF. The sale is part of EDF's strategy to divest certain assets and focus on its core European markets.
KKR has been increasingly active in the renewable energy space, with investments in various clean energy projects globally. This deal is expected to further solidify its position as a key player in the North American renewable energy market.