"PG&E Nears Deal With KKR For Stake In Power Business Spinoff; California Utility Is Seeking Regulatory Approval To Sell KKR Part Of A New Company That Would House Most Of Its Power Generation Business" - WSJ

Author: Benzinga Newsdesk | April 30, 2024 04:41pm

https://www.wsj.com/business/energy-oil/pg-e-nears-deal-with-kkr-for-stake-in-power-business-spinoff-f3c7dc44?mod=e2tw

PG&E  is nearing a deal to sell a multibillion-dollar stake in its fleet of power plants to investment giant KKR as the company seeks funding for work intended to prevent its power lines from sparking wildfires.

The California utility company said it is seeking regulatory approval to transfer its sprawling hydroelectric system, as well as a smaller fleet of natural gas, solar and battery facilities, into a new subsidiary called Pacific Generation, 49.9% of which it intends to sell to KKR, one of the world's biggest infrastructure investors.

Posted In: KKR PCG