KKR agreed on 30 June to acquire EDF power solutions' US and Canadian operations from France's EDF in a deal valuing the business at about US$4.2bn, plus up to US$390m in additional payments.
Why KKR is buying EDF power solutions (US and Canadian operations)
KKR pointed to rising US electricity demand from data centres, manufacturing reshoring and electrification, and plans to help the business expand its asset base, improve operations and accelerate development. For EDF, chief executive Bernard Fontana called the sale part of the group's portfolio rotation strategy.
“This transaction forms part of the Group's portfolio rotation strategy.”
Deal terms and financing
KKR is paying from its global infrastructure strategy. EDF said the transaction followed an unsolicited offer from KKR and approval by its governance bodies, and that it would reduce net financial debt by around US$5.5bn.
Regulatory approvals and timing
Completion is subject to regulatory approvals and was expected in the second half of 2026.
Market context
EDF power solutions North America ranks among the ten largest owners of renewable capacity in the US, with a portfolio spanning solar, wind and battery storage. It has developed about 26GW of projects in the region.
