en.Wedoany.com Reported - Dimension News, private equity firm KKR announced on Tuesday that it has reached an agreement with Électricité de France (EDF) to acquire EDF's renewable energy business and assets in North America for approximately $4.2 billion. The transaction involves the wind, solar, and battery storage project portfolio of EDF Power Solutions.

EDF's sale of its North American assets is primarily aimed at raising funds to maintain the long-term operation of its 57 nuclear reactors in France and to support the construction plans for six new nuclear power units. The French government, as the controlling shareholder of EDF, has repeatedly stated the need to broaden financing channels to address the dual expenditures of energy transition and infrastructure renewal.

The transaction values EDF Power Solutions' North American equity at approximately $4.2 billion. Depending on the final closing conditions, the buyer may also make additional payments, with the total amount potentially increasing by up to approximately $390 million. KKR stated that the acquisition aims to capitalize on the growing demand for electricity driven by the expansion of artificial intelligence data centers and the electrification of transportation, noting that the North American market shows incremental potential in both industrial/commercial and residential electricity consumption.

EDF confirmed last week that it was in exclusive negotiations with KKR. In this transaction, KKR will acquire approximately 26 gigawatts of renewable energy projects developed or planned by EDF in North America, covering wind, solar photovoltaic power generation, and energy storage facilities, as well as some electric vehicle charging network assets. This acquisition is subject to approval from relevant regulatory authorities and is expected to close in subsequent procedures.