A global investment firm is acquiring EDF power solutions North America and its portfolio of renewable energy projects. KKR, a private equity firm, is purchasing EDF’s renewable energy business for $4.2 billion.
EDF power solutions is a turnkey renewables company responsible for developing, building, owning and maintaining solar, energy storage and wind projects in North America.
“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, managing director, KKR, in a press release. “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.”
KKR is reportedly responsible renewable energy projects valued at upwards of $26 billion globally. In the United States, KKR has previously invested in large-scale solar contractor Sol Systems in 2021, promising up to $1 billion for solar and energy storage project developments and acquisitions. The firm has also invested in California solar plus storage projects developed by Southern Power.
