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TotalEnergies and KKR add 700 MW of solar projects to U.S. joint venture

The October 12 agreement covers three Texas and Ohio projects expected to reach commercial operation by the first quarter of 2027. Signed capacity is not power delivered today.

By Greener Numbers Editorial Team · Published October 12, 2026 · Updated 10/12/2026

TotalEnergies and KKR announced on October 12 that they have signed an agreement to add 700 megawatts to the 50/50 United States renewable energy joint venture they created in 2025. The joint venture currently holds 1.4 gigawatts. The addition would bring its total to 2.1 gigawatts, a portfolio measure that includes projects not yet operating.

The transaction covers three utility-scale solar assets located in Texas and Ohio. The companies expect the projects to reach commercial operation dates by the first quarter of 2027. That schedule is a target, not confirmation that the capacity is generating power today.

TotalEnergies says the electricity produced by the assets is already sold to third parties or will be marketed by TotalEnergies. The two arrangements are different: output under contract is not the same as output the company has yet to place. The release does not name the buyers or the contract prices.

The transaction reflects an enterprise value of $1.2 billion for the portfolio. Enterprise value is a transaction valuation measure, not the cash price changing hands or a guaranteed return to either partner. The companies did not disclose a per-megawatt construction cost.

TotalEnergies says it will continue to operate the assets after the transaction completes, which is expected in 2026 subject to customary conditions. An announced agreement subject to conditions is not a closed deal; timing and completion can change.

Limits: this is a corporate release about a financing and ownership expansion. It does not establish household electricity price effects, new construction jobs beyond project-level activity, or emissions savings. Capacity under development, contracted output and electricity delivered remain separate measures.

Official source: totalenergies.com ↗