Transaction Overview
KKR announced on 1 July 2026 that it has agreed to acquire the operations and assets of EDF Power Solutions in the United States and Canada from the EDF group. The equity portion of the transaction is valued at approximately $4.2 billion, with an additional contingent consideration of up to $390 million payable under earn‑out provisions.
Assets and Business Profile
EDF Power Solutions North America, which has been operating for nearly 40 years, is among the top ten owners of renewable‑energy capacity in the United States. The business owns and operates a diversified portfolio of solar, wind and battery‑storage assets across multiple locations and provides project development, construction, long‑term operations and maintenance, and asset‑management services to utilities, corporations and institutional customers.
Strategic Rationale
Cecilio Velasco, Managing Director at KKR, said that rising power demand in the United States—driven by rapid data‑center expansion, manufacturing reshoring and broader electrification—makes the acquisition critical for delivering affordable power. He added that EDF Power Solutions’ scale, operational track record and integrated capabilities position it well to meet that demand through its diversified portfolio and project pipeline.
Funding and Deal Structure
KKR, which has deployed more than $26 billion globally across renewable‑energy and energy‑transition investments, will fund the acquisition from its global infrastructure strategy. The transaction is subject to customary closing conditions and required regulatory approvals.