TotalEnergies sells 50% of U.S. solar portfolio to KKR for $950M

The $950M deal with KKR covers six large-scale solar farms and 41 distributed generation projects, totaling 1.4 GW across North America. TotalEnergies will keep a 50% stake, continue selling part of the electricity produced, and share ownership of the portfolio valued at $1.25B.

Management says the partnership will help accelerate its expansion in deregulated U.S. power markets, a key growth area. The structure combines near-term cash from the sale with ongoing exposure to long-term renewable demand.