TotalEnergies and KKR are expanding their U.S. renewable-energy partnership with three utility-scale solar projects valued at approximately $1.2 billion.
The projects, located in Texas and Ohio, have combined capacity of 700 megawatts and will be added to the 50-50 joint venture the companies established in 2025.
The partnership currently holds approximately 1.4 gigawatts of renewable capacity.
Adding the latest portfolio will increase that figure to about 2.1 gigawatts.
The three solar projects are expected to reach commercial operation by the first quarter of 2027.
Electricity generated by the assets has either already been contracted to third parties or will be marketed by TotalEnergies.
TotalEnergies will continue operating the projects after completion of the transaction, which is expected during 2026 subject to customary conditions.
The structure reflects a broader capital-allocation strategy used by TotalEnergies in renewable power.
Rather than permanently retaining 100% ownership of every developed project, the company has increasingly brought institutional investors into mature renewable assets while continuing to operate them.
That allows TotalEnergies to recycle capital into additional projects without abandoning operating control.
The company used a similar structure with KKR in 2025 when it sold a 50% interest in a 1.4-gigawatt North American solar portfolio valued at approximately $1.25 billion.
The latest expansion also comes as U.S. electricity demand rises because of data-center construction, manufacturing investment and broader electrification.
For investors, the important measures will be the projects’ commissioning timetable, contracted power economics and whether TotalEnergies continues using partnership structures to finance its expanding electricity business.
