TotalEnergies, KKR Agree $1.2B, 700MW Solar JV Expansion

TotalEnergies and KKR announced on October 12, 2026 that they had signed an agreement to fold three utility-scale solar projects into the 50/50 U.S. joint venture created in 2025. The assets, sited in Texas and Ohio, add 700 MW and take the portfolio from 1.4 GW to 2.1 GW under a $1.2 billion enterprise value. Commercial operation is projected by the first quarter of 2027. TotalEnergies remains the operator; output is already sold to third parties or will be marketed by the company. Closing is expected in 2026 once customary conditions are met. CONTESTED MarketWatch reported a $1.2 billion deal including debt. Company announcements and other coverage called the same figure the portfolio enterprise value. No further factual disputes appear. By late June 2026 TotalEnergies held more than 37 GW of gross renewable generation capacity and aims for over 100 TWh of net electricity production by 2030. Whether the transaction closes on the stated timetable remains subject to the outstanding conditions.