ESG & Investing

Private Equity Targets Clean Energy After Steep Drop-Off in 2025

Investment firms, including KKR & Co. and Energy Impact Partners, are scouting for possible acquisitions.

Solar panels and wind turbines on land in Avila, Spain.

Photographer: Emilio Parra Doiztua/Bloomberg

US clean-energy dealmaking is showing signs of a comeback after last year’s sharp contraction.

One of the first notable transactions that may occur is BlackRock Inc.’s Global Infrastructure Partners teaming up with private equity firm EQT AB to acquire AES Corp., Bloomberg News reported earlier this month. The majority of AES’s power generation comes from renewable energy and is supplied to technology companies such as Microsoft Corp.