Kirkland Advises KKR on Expansion of JV with TotalEnergies, Adding 700 MW U.S. Renewables Portfolio

Kirkland & Ellis advised KKR, a leading global investment firm, on the signing of an agreement with TotalEnergies to add 700 MW to the 50/50 joint venture they created in the U.S. in 2025, which currently holds 1.4 GW. The transaction covers a portfolio of three utility scale solar assets located in Texas and in Ohio which are expected to reach their commercial operation dates by the first quarter of 2027. The electricity produced by these assets is already sold to third parties or will be marketed by TotalEnergies. The transaction reflects an enterprise value of $1.2 billion for the portfolio. TotalEnergies will continue to operate the assets after completion of the transaction, which is expected in 2026 subject to customary conditions.

Read the transaction press release

The Kirkland team included corporate lawyers John Pitts, Jordan Rex and Wright Wommack; debt finance lawyers Roald Nashi, Greg Howling, Jacqueline Trudeau, Sarah Al Salem and William Nicholson; and tax lawyers David Wheat, Joe Tobias, Griffin Peeples, Sam Kamyans and Dylan White.