Wall Street giant KKR takes 80% of Gestamp Solar

KKR will buy an 80% stake in Gestamp Solar from parent company Gestamp Renewables, in a deal that values the business at about $1bn.

Gestamp Solar has 300MW in operation and construction and a development pipeline of 2.2GW, KKR said.

KKR and Gestamp Renewables said they are "committed to fully support Gestamp Solar's ambitious strategic plan to have in operation up to 2.5GW