Deals
KKR Puts $500 Million Into Expanding Spanish Solar Acquisition
- Gestamp, rebranded as X-Elio, wants to operate 2.5 gigawatts
- Ambitions to expand operations in Japan, U.S., U.K., Mexico
This article is for subscribers only.
KKR & Co. invested hundreds of millions of dollars in the Spanish solar power plant developer it bought last year and is open to spending more to tap into a renewable-energy revolution that it sees increasingly displacing fossil fuels.
“KKR has committed to grow this platform and today we have about half a billion dollars of equity committed to expand this business," Jesus Olmos, global co-head of infrastructure at KKR, said in an interview in London. "We have our targets, but if we find more opportunities, we will be able to inject the equity and the debt that is needed."