Brookfield to Acquire KKR’s 50% Stake in Renewable Developer X-Elio

Kohlberg Kravis Roberts (KKR), a global investment firm, has agreed to sell 50% of its stake in renewable developer X-ELIO to its joint venture partner Brookfield Renewable. Financial details were not disclosed. X-ELIO has received over $2 billion in investment since KKR's initial investment in 2015, followed by Brookfield's acquisition of a 50% stake in 2019. X-ELIO has built or developed 3 GW of renewable energy projects around the world. Furthermore, by the end of 2023, the renewable energy developer expects to have 3 GW of assets in operation, under construction, or ready-to-build in Spain, Italy, the United States, Australia, Japan, and Latin America. Furthermore, X-ELIO stated that it has over 10 GW of advanced near-term solar and storage assets in its pipeline. We have helped X-ELIO become a global leader in sustainable energy development since our initial investment eight years ago. As a company, we have been a long-term supporter of the energy transition. I'm proud of what we've accomplished together, and I wish X-ELIO continued success on this exciting journey, said Tara Davies, KKR's Co-Head of European Infrastructure. Godawari Green Energy, a wholly-owned subsidiary of the KKR-backed Virescent Renewable Energy Trust, acquired a 25 MW operational solar project from Samta Energy in Gujarat's Surendranagar district earlier this month. The Competition Commission of India recently approved a $450 million investment by Ardor Holding II Pte, a special purpose vehicle indirectly owned by KKR, through the subscription of compulsorily convertible preference shares in Hero Group's renewable arm, Hero Future Energies. Also Read By 2030, India aims to be the world's leading shipbuilding nation Delhi aims to meet annual electricity demand through solar power