Overview

• TotalEnergies will keep 50% ownership, continue operating the assets, and manage power commercialization.
• The portfolio comprises six utility-scale projects totaling 1.3 GW and 41 distributed generation assets totaling 140 MW, mostly in the United States.
• TotalEnergies expects $950 million at closing through a mix of sale proceeds and bank refinancing, reflecting a $1.25 billion enterprise value.
• KKR is investing through its insurance vehicles and accounts, establishing a joint-venture structure with TotalEnergies.
• Company leadership frames the sale as consistent with divesting stakes in de-risked projects to support a 12% profitability goal for Integrated Power.