Global investment firm KKR has entered into a definitive agreement to acquire the US and Canadian operations of EDF power solutions from the French state-backed energy giant EDF Group. The transaction values the equity interest in the targeted entities at approximately 4.2 billion dollars, with provisions for additional performance-based payments reaching up to 0.39 billion dollars.
The acquisition includes the complete renewable energy portfolio of EDF power solutions Inc. and EDF power solutions Canada Inc., which collectively function as EDF power solutions North America. The targeted division ranks among the top ten largest owners of renewable energy capacity in the United States, managing a diversified asset footprint across utility-scale solar, wind, and battery energy storage systems. The operational framework encompasses early-stage project development, construction management, asset management, and long-term operations and maintenance (O&M) services for utility, corporate, and institutional clients.
The deployment of capital follows a broader trend of infrastructure funds targeting established clean energy platforms with active interconnection queues, driven by projections of rising electricity consumption across the continent. According to KKR, the integration into its global infrastructure strategy will provide the acquired entities with the necessary resources and strategic oversight to expand their asset bases and accelerate current development pipelines.
“With power demand anticipated to increase in the United States due to the rapid expansion of data centres, manufacturing reshoring, and broader electrification, KKR’s investment in EDF power solutions North America supports the critical need for affordable power,” stated Cecilio Velasco, Managing Director at KKR.
“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. We look forward to supporting the platform’s continued growth and ultimately the United States’ broader energy security and affordability goals,” Velasco added.
The completion of the transaction remains subject to customary closing conditions, mandatory regulatory reviews, and governance approvals before final execution.
