KKR partners with Crossover Energy on renewable energy projects

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Image: SEIA via Twitter.

Renewables solutions provider Crossover Energy Partners is to oversee the development and operation of clean energy projects alongside investment firm KKR as part of a new collaboration between the companies announced today (30 June).  

The pair will focus on areas such as the origination of structured power purchase agreements (PPAs), build-transfer agreements, offtake optimisation, contract structuring and will also pursue new opportunities in segments such as EV fleets and hydrogen.

With customers including utilities, municipalities and community choice aggregations, Crossover aims to support renewable energy initiatives and decarbonisation goals for large energy users. Its team has developed more than 10.5GW of renewables and 11.7GWh of energy storage solutions in the last three years.

Benoit Allehaut, managing director on KKR’s infrastructure team, said the partnership will give the company’s investors added value from distinctive asset sourcing and customised PPAs.

After buying a stake in Acciona in 2014, KKR’s growth in the renewables industry has seen it acquire an interest in a partnership with NextEra Energy Partners that owns US renewables assets.

Last year, the investor purchased a 317MW portfolio of solar projects in India from Shapoorji Pallonji Infrastructure Capital (SP Infra) and then formed Virescent Infrastructure, a platform focused on the acquisition of renewables assets in the country.

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