TotalEnergies Plans to Inject 700 MW of Solar Assets into US Joint Venture
en.Wedoany.com Reported - On October 12, French energy company TotalEnergies announced that it had signed an agreement with global investment firm KKR to inject 700 MW of renewable energy assets into a joint venture established by the two parties in the United States. The transaction involves three large-scale solar projects in Texas and Ohio, with an enterprise value of USD 1.2 billion for the asset portfolio. Each party holds a 50% equity stake in the joint venture.
TotalEnergies and KKR established a US solar asset partnership in 2025. According to a TotalEnergies announcement dated September 29, 2025, the two parties signed an agreement at that time covering a North American solar asset portfolio with an installed capacity of approximately 1.4 GW and an enterprise value of USD 1.25 billion, including 6 large-scale photovoltaic power plants and 41 distributed generation facilities. TotalEnergies retained a 50% interest and continued to be responsible for the operation of the relevant assets.
The projects proposed for addition this time are located in Texas and Ohio. According to the transaction information provided this time, the scale of the newly added assets is equivalent to 50% of the joint venture's existing 1.4 GW asset scale. The newly added assets involve three large-scale solar projects, and verifiable specific project names, individual installed capacities, and operational statuses have not yet been obtained.
On August 3, 2026, TotalEnergies also signed a European renewable energy asset transaction agreement with an insurance investment account managed by KKR, covering 1.2 GW of onshore wind and solar assets in Germany, Spain, France, and Poland, with an enterprise value of EUR 1.8 billion for the portfolio.
