KKR Upbeat on Renewables as it Eyes EDF's North American Arm

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

KKR is set to acquire EDF power solutions North America amid an uncertain time for the renewable-energy market in the U.S. and Canada, with political opposition, grid-interconnection backlogs and supply-chain issues hindering development. Nonetheless, opportunities are bright on the solar front.

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Renewed Opportunities for Renewable Giant

KKR & Company Incorporated has agreed to acquire the operations and assets of EDF power solutions North America for about $4.2 billion, with potential additional payments of up to $390 million. The acquisition comes at a challenging time for renewable development in North America, with political and industrial winds often shifting.

Industrial Info Resources is tracking more than $16 billion worth of active and proposed projects from KKR and more than $8 billion from EDF's North American businesses.

According to Industrial Info Resources data, about 70% of the investment value attributed to EDF's North American businesses is attached to projects with a low probability (69% or less) of beginning construction as presently scheduled. While unsupportive--when not outright hostile--policies from the Trump administration have stalled some of the company's U.S. development, almost 45% of the low-probability investment is found in Canada.

Political difficulties aside, EDF has faced problems in both the U.S. and Canada from grid-interconnection backlogs and supply-chain issues. EDF power solutions North America was formed in May 2025 when EDF Renewables North America and EDF International Division Americas merged into a single entity.

"Under KKR's ownership, EDF power solutions North America will have the resources and strategic support to expand its asset base, enhance operational performance, and accelerate its development pipeline," KKR said in a press release.

One of EDF's longest-delayed projects still being pursued was its 350-megawatt (MW) Ridge View Solar Plant in Newfane, New York, which is about 60 miles west of Rochester on the shores of Lake Ontario. As designed, the project would have utilized as many as 1 million photovoltaic (PV) panels and a battery energy-storage system (BESS); presently, it is unclear how this project, like the others in EDF's 19.2 gigawatt (GW) slate of solar, wind and battery-storage projects across North America, will develop under KKR's ownership.

Industrial Info Resources offers more information on the Ridge View project in its Global Market Intelligence (GMI) Power Plant and Project databases, where readers can find details--including construction schedules, investment values and necessary equipment--in a plant profile and reports on the PV-panel and BESS projects.

Among EDF's projects slated to begin construction in the near future is its Forêt Domaniale Windfarm in Caplan, Quebec, which sits on the shore of Chaleur Bay just north of New Brunswick. The facility is designed to generate about 180 MW from 30 EnVentus turbines from Vestas Wind Systems A/S. EDF and its parnters announced financial closing for the project in April. Readers can learn more from a detailed plant profile and project report.

By the Numbers

• More than $8 billion: Total investment value of active and proposed projects from EDF's North American businesses
• $4.2 billion (plus up to $390 million): Price tag for KKR's acquisition of EDF power solutions North America
• 19.2 GW: Total proposed capacity of EDF's slate of under-development renewable-energy projects across North America

Solar Hasn't Lost its Shine

KKR's acquisition is its latest foray into renewable energy. Last year, the company purchased a 50% stake in TotalEnergies SE's 1.4-GW solar portfolio in North America for about $950 million. For more information on that deal, see Industrial Info Resources' October 1, 2025, article - TotalEnergies Sells Half of U.S. Solar Portfolio.

TotalEnergies has more than $8.5 billion worth of active or proposed renewable-energy projects across the U.S. and Canada, including the Piedra Solar and BESS Plant in Mexia, Texas, which is about 75 miles south of Dallas. The facility, which is designed to generate about 300 MW from nearly 650,000 PV panels provided by First Solar Incorporated, is slated to finish construction in the fourth quarter. Readers can consult a detailed plant profile and project report.

Despite political and industrial challenges, the U.S. solar-power market remains in a strong position for the foreseeable future. Earlier this year, the U.S. Energy Information Administration (EIA) estimated a total 86 GW of new, utility-scale generation capacity will be brought online this year, with solar accounting for 51% and BESS for 28%.

"With power demand anticipated to increase in the United States due to the rapid expansion of data centers, manufacturing reshoring and broader electrification, KKR's investment in EDF power solutions North America supports the critical need for affordable power," KKR said in the press release. "KKR brings deep expertise and a proven track record investing in renewables, having deployed more than $26 billion globally across renewables and energy transition investments to date."

The acquisition is expected to close during the second half of 2026.

The Industrial Info Resources GMI Project and Plant databases offer a full list of detailed reports for projects mentioned in this article, and a full list of related plant profiles.

Industrial Info Resources also offers full lists of reports for active and proposed projects from KKR and EDF power solutions North America.

Key Takeaways

• KKR is set to acquire EDF power solutions North America amid a challenging time for renewables development in North America.
• EDF has faced problems in the U.S. and Canada from political opposition, grid-interconnection backlogs and supply-chain issues.
• The acquisition is expected to close during the second half of 2026.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).