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TotalEnergies expands US venture with KKR with 700 MW portfolio - Finance news and analysis from Global Banking & Finance Review
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TotalEnergies expands US venture with KKR with 700 MW portfolio

Published by Global Banking & Finance Review

Posted on October 12, 2026

1 min read

· Last updated: October 12, 2026

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TotalEnergies Expands KKR US Renewables Venture with 700 MW Solar Portfolio

Expansion of Joint Venture and Solar Portfolio Details

Overview of the Expansion

Oct 12 (Reuters) - TotalEnergies said on Monday it is expanding its joint venture with KKR in the United States with an additional renewables portfolio valued at $1.2 billion.

Details of the Solar Assets

Location and Capacity

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.

Project Timeline and Operations

  • Commercial Operation Date

    The three solar assets are expected to reach commercial operation by the first quarter of 2027

  • Electricity Sales

    Electricity from the assets is already sold to third parties or will be marketed by TotalEnergies

  • Asset Operation

    TotalEnergies will continue to operate the assets after completion of the transaction, expected in 2026

Reporting Credits

(Reporting by Dimitri Rhodes in Gdansk; Editing by Matt Scuffham)

Key Takeaways

  • The new $1.2 billion portfolio covers three utility‑scale solar assets in Texas and Ohio, expected online by Q1 2027, and will be operated by TotalEnergies upon closing in 2026 (totalenergies.com).
  • This expansion builds on the 2025 JV, where TotalEnergies sold a 50% stake in a 1.4 GW North American solar portfolio to KKR—valued at $1.25 billion—with TotalEnergies retaining operational control (totalenergies.com).
  • This move supports TotalEnergies’ capital‑recycling strategy in its Integrated Power business, enhancing profitability targets, while doubling down on its U.S. renewable footprint amid broader growth in solar and energy transition investments (sec.gov).

Frequently Asked Questions

What is the value of TotalEnergies' expanded US renewables portfolio with KKR?
The expanded renewables portfolio is valued at $1.2 billion.
How much additional capacity does the new deal add to the joint venture?
The deal adds 700 megawatts of utility-scale solar assets.
Where are the new utility-scale solar assets located?
The three assets are located in Texas and Ohio, USA.
When are the new solar assets expected to be commercially operational?
They are expected to reach commercial operation by the first quarter of 2027.
Who will operate the solar assets after transaction completion?
TotalEnergies will continue to operate the assets after the transaction completes.

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