Overview
- EDF signed the agreement with KKR on Tuesday, June 30, to sell its U.S. and Canadian EDF Power Solutions units for about $4.2 billion plus up to $390 million in performance earnouts.
- The deal transfers a roughly 5.6 GW portfolio of utility-scale solar, wind and battery storage plus services that cover project development, construction, and long-term operations and maintenance.
- EDF says the transaction will reduce its net financial debt by about $5.5 billion as part of a portfolio-rotation plan to concentrate capital on nuclear, hydro and core renewables.
- The sale must clear employee information and consultation procedures, governance sign-offs and U.S. and Canadian regulatory and antitrust approvals, with closing expected in the second half of 2026.
- KKR said the purchase supports rising U.S. power demand and represents a major infrastructure bet that moves a large operational renewables platform into private-equity ownership, while employees face formal consultation steps that could affect timing and terms.