The deal follows KKR’s 2025 purchase of TotalEnergies’ North American solar arm for $1.25 billion. In a €1.8bn enterprise‑value transaction, KKR will take a 50 % stake in a largely developed 1.2GW onshore solar and wind portfolio spread across Germany, Spain, France and Poland.

TotalEnergies has agreed to sell half of the assets while retaining the other half and continuing operations post‑deal. Electricity from the sites is already sold to third parties, making the transaction a straightforward transfer of ownership without disrupting supply.

The sale aligns with TotalEnergies’ model of monetising mature renewable projects by divesting 50 % stakes. Mom will hold the assets through an insurance account, and the transaction is slated for completion in 2026, subject to customary conditions.

This transaction underscores the growing appetite for European renewable infrastructure among private‑equity investors and highlights TotalEnergies’ strategy of steady, incremental cash‑generation from its green portfolio.