KKR to buy 50 percent stake in TotalEnergies’ European onshore solar and wind business for €1.8bn
- The deal is in line with TotalEnergies’ business model of selling 50% stakes in renewable assets once developed.
- The transaction covers a portfolio of assets in Germany, Spain, France and Poland. The electricity produced by these assets is already sold to third parties.
TotalEnergies has signed an agreement with an insurance account managed by KKR for the sale of a 50 percent stake in a largely developed 1.2GW onshore solar and wind asset portfolio in Europe, in a €1.8 billion ($2.1 billion) enterprise value transaction.
The transaction covers a portfolio of assets in Germany, Spain, France and Poland. The electricity produced by these assets is already sold to third parties.
TotalEnergies will retain a 50% stake in the assets and continue to operate them after completion of the transaction, which is expected in 2026 and subject to customary conditions.
The renewable energy deal follows the late 2025 acquisition by KKR of TotalEnergies’ North American solar business for about $1.25 billion.
