EC Commission clears acquisition of joint control over X-Elio Energy by Brookfield and KKR

The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of joint control over X-Elio Energy, S.L. by Brookfield Asset Management Inc. and KKR & Co. Inc. which currently solely controls X-Elio.

Brookfield will acquire a 20% interest in X-Elio from Acek and a 30% stake in KKR. Under the deal, KKR and Brookfield Renewable will operate X-Elio through a 50/50 joint venture.

X-Elio is active in the development, construction, operation, and maintenance of solar plants in Spain, the US, Mexico, Chile and Japan.