Alternative asset manager KKR announced the acquisition of EDF Group’s U.S. and Canadian power solutions businesses, in a transaction valued at $4.2 billion, with potential additional payments of up to $390 million, marking KKR’s largest individual investment to date in the renewables sector.
EDF power solutions North America is among the top ten owners of renewable energy capacity in the U.S. The business owns and operates a diversified portfolio of solar, wind, and battery storage assets and manages an integrated platform spanning project development, construction, and long-term operations and maintenance (O&M) and asset management, serving a broad range of utility, corporate and institutional customers.
KKR said the investment comes amid rising electricity demand driven by factors including the rapid expansion of data centers, manufacturing reshoring and broader electrification trends. The acquisition marks the latest in a series of energy transition and sustainable infrastructure-focused transactions for KKR.
KKR added that its resources and strategic support will enable EDF to expand its asset base, enhance operational performance, and accelerate its development pipeline.
The acquisition will be funded from KKR’s global infrastructure strategy.
Cecilio Velasco, Managing Director, KKR, said:
“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.”
