About EDF Renewable Energy
EDF Renewable Energy is a subsidiary of EDF Renouvelables (formerly enXco) that develops, constructs, operates, and manages renewable energy projects across North America. Its portfolio centers on wind and solar photovoltaic generation, with additional involvement in biogas, biomass, hydro, marine energy, and storage. The company has signed long-term power purchase agreements with corporate customers including Google, Microsoft, Walmart, Procter & Gamble, and Salesforce.
Founded
1987
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales, Services
Valuation
$4.2B (acquired Jun 2026)
EDF Renewable Energy Acquisition
EDF Renewable Energy was acquired by KKR for $4.2B on 25 June 2026.
Before the acquisition EDF Renewable Energy had raised $200M across 1 funding round.
KKR agreed to acquire EDF Power Solutions' North American operations (U.S. and Canadian divisions) from EDF Group for approximately $4.2 billion, with potential additional payments reaching $390 million. The transaction values the equity interest in EDF Power Solutions Inc. and EDF Power Solutions Canada Inc. at $4.2 billion, marking KKR's largest individual renewable energy investment to date. The deal grants KKR immediate control of one of North America's largest clean power portfolios, comprising over 5.6 gigawatts of operating wind, solar, and battery storage assets, strategically positioned to support electricity demand from AI data centers and other fast-growing power consumers. EDF Power Solutions has developed more than 26 gigawatts of renewable projects over nearly 40 years and operates one of the continent's largest clean energy portfolios, with an additional 19.2 gigawatts under development. The acquisition represents a landmark $4.2-billion transaction in the clean energy sector, consolidating KKR's presence in renewable assets while EDF Group exits its North American renewable business.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 25 Jun 2026 | PE buyout | $4.2B |
EDF Renewable Energy Funding History
EDF Renewable Energy has raised a total of $200M across 1 funding round.
EDF Renewable Energy funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2013 | Undisclosed stage | Alphabet (lead) | $200M | EDF Renewable Energy, a subsidiary of EDF Renouvelables (formerly enXco), is a leading developer, constructor, operator, and manager of renewable energy projects in North America, specializing in wind and solar photovoltaic, with involvement in biogas, biomass, hydro, marine energy, and storage solutions. In December 2012, Google made an approximately $200 million equity investment in EDF RE's Spinning Spur Wind Project, a 161 MW facility in Oldham County, Texas, consisting of 70 Siemens 2.3 MW turbines. The project achieved commercial operation in late December 2012 and generates enough clean energy to power about 60,000 average U.S. homes, with output contracted to SPS, a utility serving Texas and New Mexico. EDF RE retained ownership and management, bringing expertise from over 50 other projects. This investment marked a partnership between Google and EDF RE, departing from traditional financial institutions by leveraging corporate capital for renewable energy. Google, already active with 10 other renewable investments totaling 2 GW since 2010, highlighted the move as supporting Texas's wind industry and low-cost clean energy. Jim Peters, EDF RE's VP of Project Finance, noted the collaboration's value creation for both tech and renewable sectors. The relationship evolved with subsequent power purchase agreements, including 201 MW from Great Western Wind Project in Oklahoma (announced 2015 at COP21) and 200 MW from Glaciers Edge in Iowa (2017), advancing Google's goal of 100% clean energy operations. EDF RE's corporate PPA portfolio grew to include Microsoft, Walmart, Procter & Gamble, Yahoo, Salesforce, and others. The Spinning Spur deal positioned corporations as key capital sources for renewables. |
Who has invested in EDF Renewable Energy?
1 investor has backed EDF Renewable Energy across its funding rounds, including Alphabet.
Lead investors include Alphabet.
EDF Renewable Energy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by EDF Renewable Energy
EDF Renewable Energy has acquired 3 companies to date.
Last acquisition by EDF Renewable Energy was on January 1st 2021. EDF Renewable Energy acquired EnterSolar for undisclosed valuation.
Latest Acquisitions by EDF Renewable Energy
| Description | EnterSolar delivers turnkey solar photovoltaic systems to commercial clients. The company handles design, installation, and maintenance for rooftop and ground-mount projects. Miami-based, it supplies panels, inverters, and monitoring systems from leading manufacturers. EnterSolar targets warehouses, offices, and retail facilities seeking energy cost reductions. | groSolar is a solar photovoltaic company delivering full engineering, procurement, and construction services for projects serving developers, utilities, governments, and commercial clients across the United States. Headquartered in Vermont with offices spanning East Coast to West Coast locations, the firm specializes in ground-mounted and rooftop PV systems. groSolar maintains expertise in system design, permitting, and grid interconnection for institutional-scale installations. The company operates nationwide, focusing on coastal and inland markets from New England to California. | OwnEnergy is a developer of community-scale wind energy projects across the United States. The company partners with local landowners in wind-rich regions to build facilities ranging from 30 to 100 MW. OwnEnergy has completed and sold six projects totaling 240 MW, including sites in New York, Texas, and Oklahoma. Based in New York City since 2008, the firm combines national expertise in permitting, financing, and grid interconnection with local stakeholder involvement to accelerate project timelines and reduce development costs. |
| HQ Country | |||
| HQ City | New York City, NY | - | New York City, NY |
| Deal Date | 1 Jan 2021 | 25 Apr 2016 | 26 Aug 2015 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all EDF Renewable Energy acquisitions and their M&A valuation multiples. Start Free Trial | |||
Investments by EDF Renewable Energy
EDF Renewable Energy has invested in 5 companies to date.
Latest investment by EDF Renewable Energy was on January 30th 2024. EDF Renewable Energy invested in Crux in their $18M Series A round.
Latest Investments by EDF Renewable Energy
| Description | Crux is a climate fintech platform that facilitates transactions and management of transferable tax credits among developers, tax credit buyers, and financial institutions. The platform supports capital raising for clean energy projects through credits like 45Q carbon capture and 45Z clean fuels. Developers and manufacturers access funding across project stages from development to operations. Headquartered in New York City, Crux launched in 2021 and partners with institutions such as Goldman Sachs and JPMorgan Chase to streamline sustainable finance. Its technology integrates capital markets data for efficient matching and risk assessment in the growing tax equity market. | SWEETCH Energy is a French startup advancing salinity gradient power via capacitive mixing with nanostructured electrodes. The technology converts mixing energy from freshwater and seawater flows into electricity without membranes or moving parts. Headquartered near Grenoble, it develops prototypes for coastal power plants aiming at baseload renewable output from estuaries like the Gironde. | - | PowerUp is a developer of lithium-ion pouch cells for drones and portable electronics. Based in Tel Aviv, Israel, the company produces batteries with energy densities up to 300 Wh/kg used in consumer drones by DJI resellers. PowerUp scales production to 10 MWh monthly from its facility operational since 2020. | |
| HQ Country | |||||
| HQ City | New York City, NY | Lorient | - | Paris | |
| Deal Date | 30 Jan 2024 | 20 Sep 2022 | 13 Oct 2021 | 26 Nov 2020 | |
| Round | Series A | Seed | Undisclosed stage | Series A | |
| Raised | $18M | $6M | $100M | $6M | |
| Investors | Pattern Energy Group; Three Cairns Group; Andreessen Horowitz; Lowercarbon Capital; Intersect Power; New System Ventures; Overture VC; Clearway Energy | Compagnie Nationale du Rhône; Demeter; Future Positive Capital; GO CAPITAL | VinaCapital | Supernova Invest | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all EDF Renewable Energy investments and their VC round multiples. Start Free Trial | |||||
EDF Renewable Energy Competitors
EDF Renewable Energy competitors include listed companies like TAURON, Northland Power, Nebras Energy and TransAlta, and private ones like Commonwealth Fusion Systems and Inox Clean Energy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $9.1B | $2B | $4.3B | 0.8x | ||
| Publicly listed | $1.7B | $589M | $4.1B | 4.8x | ||
| Publicly listed | $819M | $528M | $4B | 6.6x | ||
| Publicly listed | $1.7B | $488M | $3.9B | 4.8x | ||
| Private | - | - | $3.4B | - | ||
| Private | - | - | $7.3B | - |
EDF Renewable Energy Public Comps
EDF Renewable Energy is no longer listed, but its public comps include Algonquin Power & Utilities, China Power, Helmerich & Payne, Premier Energies, NorthWestern Energy, TAURON, Thaioil, Jiangsu Guoxin, Northland Power and Kinetik Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.4B | $882M | 4.7x | 4.4x | 12.9x | 10.9x | |||
| $7.3B | $4.2B | 5.9x | 6.2x | 10.4x | 11.9x | |||
| $3.7B | $624M | 1.6x | 1.5x | 9.4x | 6.6x | |||
| $814M | $258M | 5.3x | 4.0x | 16.8x | 13.8x | |||
| $1.6B | $587M | 4.9x | 4.6x | 13.4x | 11.9x | |||
| $9.1B | $2B | 0.8x | 0.8x | 3.6x | 4.0x | |||
| $12B | $813M | 0.6x | 0.5x | 9.4x | 5.4x | |||
| $5.3B | $1.4B | 1.8x | 1.8x | 6.8x | - | |||
This data is available for Pro users. Sign up to see all EDF Renewable Energy competitors and their valuation data. Start Free Trial | ||||||||
Common questions about EDF Renewable Energy
| When was EDF Renewable Energy founded? | EDF Renewable Energy was founded in 1987. |
| Where is EDF Renewable Energy headquartered? | EDF Renewable Energy is headquartered in United States. |
| Is EDF Renewable Energy publicly listed? | No, EDF Renewable Energy was acquired by KKR in June 2026. |
| Who acquired EDF Renewable Energy? | EDF Renewable Energy was acquired by KKR in June 2026. |
| How much was EDF Renewable Energy acquired for? | EDF Renewable Energy was acquired for $4.2B in June 2026. |
| How much funding has EDF Renewable Energy raised? | EDF Renewable Energy has raised $200M across 1 funding round. |
| What was EDF Renewable Energy's last funding round? | EDF Renewable Energy's last funding round was a $200M undisclosed-stage round in January 2013, led by Alphabet. |
| Who are EDF Renewable Energy's investors? | EDF Renewable Energy's investors include Alphabet. |
| Which companies are comparable to EDF Renewable Energy? | Companies comparable to EDF Renewable Energy include TAURON, Northland Power, Nebras Energy, TransAlta, Commonwealth Fusion Systems and Inox Clean Energy. |
| How many companies has EDF Renewable Energy acquired? | EDF Renewable Energy has acquired 3 companies, including EnterSolar, groSolar and OwnEnergy. |
| How many companies has EDF Renewable Energy invested in? | EDF Renewable Energy has invested in 5 companies, including Crux, Sweetch Energy, SkyX Solar, PowerUp and KarmSolar. |
| What was EDF Renewable Energy's last investment? | In January 2024, EDF Renewable Energy invested in Crux's $18M Series A alongside Pattern Energy Group, Three Cairns Group, Andreessen Horowitz and 5 other investors. |
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