The deal involves a 50% stake in operational solar and wind assets across Europe, marking a major infrastructure investment for KKR.
TotalEnergies has finalized an agreement to divest a 50% stake in its 1.2 GW portfolio of onshore solar and wind assets in Europe to an insurance account managed by KKR. The transaction covers largely developed projects, reinforcing TotalEnergies’ strategy to monetize mature renewable assets.
The 1.2 GW portfolio spans multiple European markets, reflecting growing investor appetite for operational renewable energy infrastructure. Prior transactions in the sector have seen similar stakes sold at premium valuations, driven by stable cash flows and long-term contracts.
The deal aligns with KKR’s push into energy transition investments, expanding its exposure to low-carbon assets. Financial terms were not disclosed, but such transactions typically attract institutional investors seeking yield.