KKR Ready to Add PG&E's Power Plants to List of Acquisitions

May 2, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Investment giant KKR & Company Incorporated (NYSE:KKR) (New York, New York) is on the cusp of acquiring a significant stake in PG&E Corporation's (NYSE:PCG) (Oakland, California) fleet of power plants, according to The Wall Street Journal. The deal, which is expected to total between $2 billion and $3 billion, would see the two companies form a partnership called Pacific Generation, 49.9% of which would be held by KKR. Industrial Info is tracking more than $6.5 billion worth of active and planned projects across the U.S. from KKR or PG&E. KKR would invest in Pacific Generation through its infrastructure arm, giving it a share in returns in the generation fleet, as well as revenues from the sale of electricity, according to the Journal. KKR already is at work on several projects across the U.S. involving assets it acquired from existing companies, such as LCY Chemical Corporation (Taipei, Taiwan) and CyrusOne LLC (Dallas, Texas). Other companies featured: Taiwan Semiconductor Manufacturing Company Limited and Global Infrastructure Partners