BAKU, Azerbaijan, October 12. TotalEnergies and
global investment firm KKR have signed an agreement to add 700
megawatts (MW) of solar power capacity to their existing 50/50
joint venture in the U.S., bringing its total portfolio to 2.1
gigawatts (GW), TotalEnergies said.


The transaction covers three utility-scale solar projects in
Texas and Ohio, which are expected to begin commercial operations
by the first quarter of 2027. The portfolio has an enterprise value
of $1.2 billion.


Electricity generated by the projects has already been
contracted to third parties or will be marketed by
TotalEnergies.


TotalEnergies will continue operating the assets following
completion of the transaction, which is expected in 2026, subject
to customary closing conditions.


The joint venture was established in 2025, when TotalEnergies
sold KKR a 50% stake in a 1.4-GW portfolio of solar assets in North
America.







As of the end of June 2026, TotalEnergies had more than 37 GW of
gross renewable power generation capacity worldwide. The company
aims to achieve net electricity production of more than 100
terawatt-hours annually by 2030.


TotalEnergies is a France-based integrated energy company
operating in around 120 countries, with businesses spanning oil and
gas exploration and production, natural gas, liquefied natural gas
(LNG), refining, petrochemicals, renewable energy and electricity.
The company employs more than 100,000 people and is expanding its
renewable power generation and electricity businesses alongside its
traditional energy operations.


KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit, and real assets and has strategic
partners that manage hedge funds. KKR's insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR's
investments may include the activities of its sponsored funds and
insurance subsidiaries.