KKR to buy EDF's renewable power assets in US, Canada for $4.2 billion

KKR & Co

KKR & Co

KKR

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June 30 (Reuters) - Private equity firm KKR said on Tuesday it will buy the operations and assets of EDF's North American renewable energy unit in the U.S. and Canada for $4.2 billion.

EDF Power Solutions' assets are being sold as the parent company, French state-owned utility EDF, seeks to raise cash to maintain its 57 aging domestic nuclear reactors and finance the construction of six new units.


  • The deal values the equity interest of EDF Power Solutions in North America at approximately $4.2 billion, with potential additional payments of up to $390 million.

  • KKR is aiming to capitalize on rising power demand driven by the expansion of AI data centers and electrification.

  • EDF confirmed last week that it will sell to KKR.

  • In North America, EDF has developed 26 gigawatts of wind, solar and battery storage projects as well as electric vehicle charging sites.


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