TotalEnergies and KKR expand US renewable venture by 700 MW
TotalEnergies and KKR have agreed to add 700 MW of renewable assets to their existing 50:50 US joint venture, which currently holds 1.4 GW. The addition includes three utility-scale solar projects in Texas and Ohio, expected to begin commercial operations in the first quarter of 2027, with an enterprise value of $1.2 billion and a closing expected in 2026. TotalEnergies will continue operating the assets, after divesting a 170 MW distributed solar portfolio across seven European countries to Amarenco and AMPYR Distributed Energy in July 2026.
The partners are enlarging a US joint venture they own equally. That venture already controls 1.4 GW, and the proposed addition would bring another 700 MW through three utility-scale solar projects in Texas and Ohio. Commercial operation is targeted for early 2027.
The output has either already been sold to outside buyers or will be brought to market by TotalEnergies. The deal carries a $1.2 billion enterprise value and is slated to close in 2026. TotalEnergies would remain the operator. Separately, in July 2026 it completed selling a 170 MW European rooftop solar portfolio across seven countries to Amarenco and AMPYR Distributed Energy.
The added solar capacity may give parts of Texas and Ohio more low-carbon electricity, potentially affecting local grid reliability and emissions over time. Communities near the projects could see construction jobs and land-use changes. Electricity buyers and consumers might benefit if output is competitively priced, though outcomes are uncertain. The European rooftop sale may alter who manages those installations, which could affect customers and workers tied to the portfolio. Overall, effects depend on grid conditions, contracts, and local decisions.