The transaction will increase the venture’s renewable energy capacity by 700 megawatts (MW), strengthening the companies’ presence in the U.S. clean energy market as they pursue investments in large-scale solar power generation.
The additional portfolio comprises three solar assets located in Texas and Ohio. The projects will expand the joint venture established by TotalEnergies and KKR in 2025, which currently holds approximately 1.4 gigawatts (GW) of renewable energy capacity.
With the latest expansion, the partnership’s total capacity is expected to rise to 2.1 GW, representing a significant increase in its ability to generate electricity from renewable sources.
The three solar facilities are expected to begin commercial operations by the first quarter of 2027. Their development and eventual integration into the joint venture will further broaden the partnership’s portfolio of utility-scale renewable energy assets.
Electricity generated by the projects has already been contracted to third-party buyers in some cases, while the remaining output will be marketed by TotalEnergies. The arrangement provides a route to market for the electricity produced by the facilities and supports the company’s role in managing the assets’ commercial operations.
TotalEnergies will also retain operational responsibility for the solar projects after the transaction is completed, ensuring continuity in the management of the facilities. Completion of the deal is expected in 2026.
The expansion highlights the continued development of TotalEnergies’ renewable energy activities in the United States and the role of investment partnerships in financing and expanding large-scale clean energy infrastructure.
For KKR, the transaction extends its participation in the renewable energy sector through an established partnership with TotalEnergies. For TotalEnergies, the additional assets will increase its solar generation capacity while maintaining its involvement in the operation and commercial management of the projects.
The companies did not provide further details in the announcement about the individual projects, the identity of electricity buyers or the precise allocation of the transaction value among the three assets.