KKR has agreed to acquire the U.S. and Canadian operations of EDF power solutions from the EDF Group in a transaction valued at approximately $4.2 billion. The agreement also includes potential additional payments of up to $390 million, subject to certain conditions.
The acquisition covers EDF power solutions’ North American renewable energy business, which owns and operates a portfolio of solar, wind, and battery energy storage assets across the United States and Canada. The platform also includes project development, engineering, construction, operations, maintenance, and asset management capabilities.
EDF power solutions North America ranks among the 10 largest owners of renewable energy capacity in the United States and supplies clean energy to utilities, commercial customers, and institutional clients across the region.
KKR will finance the acquisition through its global infrastructure strategy. The investment firm said it intends to support the expansion of the company’s renewable energy portfolio, improve operational performance, and advance its project development pipeline.
The transaction remains subject to regulatory approvals and closing conditions.