(News Bulletin 247) – KKR announces the sale of its 50% stake in global renewable energy developer, X-ELIO, to its joint venture partner, Brookfield Renewable Power. Following the transaction, Brookfield Renewable Power will own 100% of X-ELIO.
X-ELIO specializes in the development, construction, financing and operation of solar photovoltaic power plants and storage and hydrogen projects worldwide.
Since KKR’s initial investment in 2015 and Brookfield’s acquisition of a 50% stake in 2019, X-ELIO has benefited from over $2 billion in investments, enabling significant pipeline growth and an increase in the rate of development.
Since its creation, X-ELIO has built or developed 3 GW of renewable energy projects on five continents.
Ignacio Paz-Ares, Head of European Renewable Energy Investments and Transition at Brookfield Renewable, said: ‘This transaction fits perfectly with Brookfield’s strategy as a leading owner, operator and developer in the field. of renewable energies on a global scale.’
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