KKR, a leading global investment firm, recently announced they have agreed to acquire the operations and assets of EDF power solutions in the United States and Canada from EDF group, one of the world's largest power producers.
The combined value of all assets is listed at approximately $4.2 billion, with potential additional payments of up to $390 million.
EDF power solutions North America is among the top ten owners of renewable energy capacity in the United States, with a nearly 40-year track record of delivering clean energy solutions across the U.S. and Canada. The company owns and operates a diversified portfolio of solar, wind, and battery storage assets across multiple geographies and manages an integrated platform spanning project development, construction, and long-term operations and maintenance (O&M) and asset management.
KKR claims under their ownership, EDF power solutions North America will have the resources and strategic support to expand its asset base, enhance operational performance, and accelerate its development pipeline.
“With power demand anticipated to increase in the United States due to the rapid expansion of data centers, manufacturing reshoring, and broader electrification, KKR’s investment in EDF power solutions North America supports the critical need for affordable power,” said Cecilio Velasco, KKR's Managing Director, “EDF power solutions North America’s scale, operational track record, and integrated capabilities position it to meet that demand, particularly through its diversified portfolio and project pipeline. We look forward to supporting the platform’s continued growth and ultimately the United States’ broader energy security and affordability goals.”
The investment firm also recently completed a deal with South Korea's SK Inc. to launch the country's largest renewable energy platform, valued at $1.3 billion, to help meet rising clean-power demand from AI data centers and chip plants.
It will have about 1.7 gigawatts of operational capacity at launch and a development pipeline that would bring total capacity to 10 gigawatts, enough to power 100 large-scale 100-megawatt data centers, the companies said.
KKR will have initial management control of the platform, while SK will participate as an equity investor and may seek control rights through future talks, they said.
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