KKR to Acquire a 50% Stake in a Portfolio of Developed Renewable Assets from TotalEnergies Across Europe

In line with its renewables business model, TotalEnergies has signed an agreement with an insurance account managed by KKR, a global leading investment firm, for the sale of a 50% stake in an already largely developed 1.2 GW onshore solar and wind asset portfolio in Europe. The portfolio’s enterprise value amounts to €1.8 billion.

The transaction covers a portfolio of assets in Germany, Spain, France and Poland. The electricity produced by these assets is already sold to third parties or will be marketed by TotalEnergies.

“This investment reflects our conviction in the long-term fundamentals supporting Europe's renewable energy sector and the critical role infrastructure will continue to play in the energy transition," said Vincent Policard, Co-Head of European Infrastructure at KKR. "We are pleased to complete this new transaction with TotalEnergies and to further expand our investments in Europe."

TotalEnergies will retain a 50% stake in the assets and continue to operate them after completion of the transaction, which is expected in 2026 and subject to customary conditions.

KKR | www.kkr.com