French utility EDF is selling its North American renewable energy business, EDF Power Solutions, to raise funds for a massive nuclear expansion. The division, with 26 gigawatts of wind, solar and storage projects across North America, has attracted multiple suitors including private equity firm KKR, clean energy developer Clearway Energy Group, and independent power producer LS Power. Initial bids for the €4bn asset portfolio are expected to reach five contenders, signaling strong investor interest in the US clean energy transition.

The sale aligns with EDF's strategy under CEO Bernard Fontana to reduce debt and fund €25bn annual nuclear maintenance costs while preparing for six new reactors in France.