TotalEnergies and KKR (NYSE: KKR) have signed an agreement to add 700 MW of solar capacity to their existing 50/50 joint venture in the United States, according to a press release from TotalEnergies. The joint venture, created in 2025, currently holds 1.4 GW of capacity.

The transaction covers three utility-scale solar assets located in Texas and Ohio, with commercial operation dates expected by the first quarter of 2027. The portfolio carries an enterprise value of $1.2 billion. Electricity from the assets is already sold to third parties or will be marketed by TotalEnergies.

TotalEnergies will continue to operate the assets following completion of the transaction, which is expected in 2026, subject to customary closing conditions.