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TotalEnergies and KKR have agreed to add 700 MW of utility-scale solar capacity to their 50/50 US renewable energy joint venture, expanding the partnership’s portfolio from 1.4 GW to 2.1 GW. The transaction covers three solar projects in Texas and Ohio with a combined enterprise value of $1.2 billion. All three projects are expected to reach commercial operations by the first quarter of 2027, extending a partnership the companies established in 2025.
The assets add another group of operating or near-operating projects to the joint venture rather than early-stage developments. Electricity from the solar projects has either already been contracted with third-party customers or will be marketed by TotalEnergies, providing routes to market for the generation as the facilities begin operations.
TotalEnergies will retain responsibility for operating the projects after the transaction is completed. The structure allows the company to continue managing the assets while sharing ownership with KKR, giving the infrastructure investor exposure to a larger US renewable power portfolio without taking over day-to-day operations.
The latest agreement builds on the 1.4 GW solar portfolio that TotalEnergies and KKR placed into their joint venture in 2025. Adding another 700 MW increases the portfolio by 50%, taking combined capacity to approximately 2.1 GW across the two transactions. The new projects also expand the partnership’s presence across two significant US electricity markets, with assets located in Texas and Ohio.
Completion is expected during 2026 and remains subject to customary closing conditions. Once the three projects reach commercial operation in early 2027, the expanded joint venture will give TotalEnergies and KKR a larger base of utility-scale US solar assets, while allowing TotalEnergies to continue operating and marketing electricity from the portfolio.
Source: KKR
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Ankit Palan is a Canada based writer who has been writing about sustainability for the past four years. He focuses on making topics like climate change, ESG, and responsible business easier to understand and more relatable. His work looks at how sustainability plays out in the real world, across businesses, finance, and everyday decisions, without overcomplicating it.
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