KKR to Acquire a 50% Stake in a Portfolio of Developed Renewable Assets from TotalEnergies Across Europe

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PARIS & LONDON--(BUSINESS WIRE)-- In line with its renewables business model, TotalEnergies has signed an agreement with an insurance account managed by KKR, a global leading investment firm, for the sale of a 50% stake in an already largely developed 1.2 GW onshore solar and wind asset portfolio in Europe. The portfolio’s enterprise value amounts to €1.8 billion.

The transaction covers a portfolio of assets in Germany, Spain, France and Poland. The electricity produced by these assets is already sold to third parties or will be marketed by TotalEnergies.

“This investment reflects our conviction in the long-term fundamentals supporting Europe's renewable energy sector and the critical role infrastructure will continue to play in the energy transition," said Vincent Policard, Co-Head of European Infrastructure at KKR. "We are pleased to complete this new transaction with TotalEnergies and to further expand our investments in Europe."

TotalEnergies will retain a 50% stake in the assets and continue to operate them after completion of the transaction, which is expected in 2026 and subject to customary conditions.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

TotalEnergies and electricity

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of June 2026, TotalEnergies holds more than 37 GW of gross renewable power generation capacity and aims to achieve over 100 TWh of net electricity production by 2030.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260802134675/en/

KKR Media Contacts

International
Julia Leeger | media@kkr.com

France
Juliette Laurent | kkrfrance@plead.fr

TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 | presse@totalenergies.com | @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 | ir@totalenergies.com

Source: KKR and TotalEnergies