PG&E nears deal with KKR to sell $3.5bn stake in power plants for infrastructure upgrades and wildfire risk reduction.
PG&E is reportedly close to a deal with KKR to sell a stake in its power plants, valued at around $3.5bn, to raise funds for infrastructure upgrades and wildfire risk reduction. PG&E aims to transfer its hydroelectric and natural gas assets into a new subsidiary, Pacific Generation, and sell 49.9% to KKR. The California Public Utilities Commission must approve the sale, expressing concerns over potential risks.
April 30, 2024
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