TotalEnergies expands US venture with KKR with 700 MW portfolio

Business Recorder reported on Monday that TotalEnergies is enlarging its joint venture with KKR in the United States. The expansion brings in a renewables portfolio of 700 megawatts, which will become part of the partnership. The announcement describes the addition as a step in widening the venture's holdings. The report gives no further details on the partners' stakes or the expected timing of completion.

The transaction carries an enterprise value of $1.20 billion for the portfolio, according to the company's statement. TotalEnergies will keep operating the assets once the deal is completed, the company added. For Pakistani investors, the story has no direct link to listed companies on the PSX, as it concerns a foreign energy group's US renewables business.