United States: TotalEnergies Expands its Joint Venture with KKR with the Addition of a 700 MW Renewables Portfolio

Impact · against what's priced in

The expansion of the TotalEnergies-KKR joint venture is a marginal catalyst for both companies. For KKR, the addition of 700 MW of solar assets is a small-scale diversification that does not meaningfully move the needle toward the aggressive revenue growth the market currently discounts.

KKR+0.10

Challenges what's priced in

The price assumes