PARIS: TotalEnergies has announced the expansion of its joint venture with global investment firm KKR in the United States through the addition of a 700-megawatt (MW) renewable energy portfolio.
The transaction values the portfolio at an enterprise value of $1.20 billion, according to the company.
TotalEnergies will continue to operate the renewable energy assets following the completion of the transaction.
The expansion strengthens the companies’ existing partnership in the US renewable energy sector, although further details regarding the portfolio’s composition and the transaction’s completion timeline were not provided in the announcement.
By Reuters
