Kirkland Advises KKR on a Renewables Portfolio Joint Venture with TotalEnergies

Kirkland & Ellis advised KKR on an agreement whereby insurance vehicles and accounts managed by KKR will acquire 50% of a 1.4 GW solar portfolio in North America from TotalEnergies. This transaction values the portfolio at an enterprise value of $1.25 billion and covers six utility-scale solar assets with a combined capacity of 1.3 GW, and 41 distributed generation assets totaling 140 MW, primarily situated in the U.S. TotalEnergies will keep a 50% stake in the assets and continue to operate them after the closing of this transaction, which is subject to customary conditions.

Read TotalEnergies’ press release

The Kirkland team included corporate lawyers John Pitts, Josh Teahen, Jordan Rex and Wright Wommack; debt finance lawyers Roald Nashi, Greg Howling, Katherine Hannah and Jacqueline Trudeau; and tax lawyers David Wheat, Joe Tobias, Sam Kamyans and William Nicholson.