KKR & Co. Inc., a leading global investment firm, has agreed to acquire the operations and assets of EDF power solutions in the United States, EDF power solutions Inc., and Canada, EDF power solutions Canada Inc., from EDF group, one of the world's largest power producers and the French state-owned utility. The transaction values the equity interest in the two entities at approximately $4.2 billion, with potential additional payments of up to $390 million structured as performance-based earnouts. The acquisition represents KKR's largest individual investment in the renewables sector to date and is being funded through KKR's global infrastructure strategy.

Collectively, the businesses being acquired represent EDF power solutions' North American renewable energy operations, which rank among the top ten owners of renewable energy capacity in the United States, with a nearly 40-year track record across the US and Canada. The platform owns and operates a diversified portfolio of solar, wind, and battery storage assets, and includes 6.1 gigawatts of operating solar and wind capacity with an additional 19.2 gigawatts under development. The business manages an integrated platform spanning project development, construction, and long-term operations and maintenance and asset management, serving utilities, corporations, and institutional customers.