KKR-Owned ContourGlobal to Invest Hundreds of Millions in UK Battery Storage
KKR is trading near its 52-week low of $82.67 (13% above the low).
Summary
KKR's fully owned subsidiary, ContourGlobal, has acquired a large battery storage project in Scotland, marking its entry into the British energy market. The company plans to invest hundreds of millions of pounds over the next two years to develop the 500 MW / 2 GWh project. This move expands KKR's portfolio in renewable energy infrastructure, following a period of significant capital deployment including a recent $23 billion fundraise. ContourGlobal expects to make a final investment decision by year-end, with project completion targeted for late 2028 or early 2029.
At the time of this announcement, KKR was trading at $93.50 on NYSE in the Finance sector, with a market capitalization of approximately $84B. The 52-week trading range was $82.67 to $153.87. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.