July 2: Global investment firm KKR has agreed to acquire EDF Power Solutions North America in a landmark $4.2 billion transaction, marking the largest renewable energy investment in the company’s history. The acquisition significantly expands KKR’s presence in the clean energy sector and positions it among the largest owners of renewable power assets in North America.
The deal gives KKR immediate ownership of a renewable energy portfolio comprising more than 5.6 gigawatts (GW) of operational wind, solar and battery energy storage projects. The acquisition comes at a time when electricity demand is rising rapidly, driven by the expansion of artificial intelligence (AI) data centres, cloud computing infrastructure and broader electrification trends.
EDF Power Solutions North America has spent nearly 40 years developing renewable energy infrastructure across the continent. During this period, the company has developed more than 26 GW of wind, solar and battery storage projects, establishing one of North America’s largest clean energy portfolios.
KKR said the acquisition will be financed through its Global Infrastructure Strategy, further strengthening its long-term investment in energy transition assets. Including this transaction, the investment firm has now committed more than $26 billion globally towards renewable energy and sustainable infrastructure projects.
For EDF, the divestment forms part of its broader portfolio rotation strategy. The French energy major plans to use the proceeds from the sale to support the maintenance of its 57 nuclear reactors in France while helping finance the construction of six new nuclear power units as part of its long-term energy strategy.
The acquisition also follows KKR’s recent expansion in Asia’s renewable energy sector. The company has partnered with SK Inc. to establish South Korea’s largest integrated renewable energy platform, valued at approximately KRW 2 trillion (around $1.3 billion). The platform currently manages 1.7 GW of renewable assets, including solar, onshore and offshore wind, fuel cells and energy storage systems, with plans to expand total capacity to 10 GW.
The latest transaction underscores growing investor confidence in renewable energy infrastructure as countries accelerate the transition towards low-carbon electricity generation while meeting the rapidly increasing energy requirements of AI, digital infrastructure and industrial electrification.
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