TotalEnergies expands US renewable venture with KKR in $1.2B solar portfolio deal

TotalEnergies said on Monday it is expanding its joint venture with KKR in the United States with an additional renewable’s portfolio.

French energy giant has announced an expansion of its U.S. renewable energy joint venture with global investment firm KKR, incorporating an additional 700-megawatt (MW) solar portfolio valued at $1.2 billion.

The deal covers three utility-scale solar assets in Texas and Ohio, adding 700 megawatts to the joint venture the companies created in 2025 that currently holds 1.4 gigawatts.

Electricity from the assets situated in Texas and Ohio, with commercial operations expected to launch by the first quarter of 2027.

The oil and diesel supplying group will retain operational responsibility for the new facilities, with the generated power either secured via pre-existing third-party contracts or actively marketed through its integrated portfolio.

For KKR, the investment deepens its exposure to high-demand North American clean infrastructure as utility firms race to meet surging commercial and industrial electrification loads.

The move underscores TotalEnergies' ongoing strategy to leverage private equity backing to accelerate capital turnover while expanding its footprint in key deregulated U.S. power markets.

Transaction completion is slated for later this year, subject to customary closing conditions.