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KKR ESG & Citizenship Report

Eco-Solution: X-ELIO

Building Cleaner Energy Globally

Key Environmental Performance Area:

  • Greenhouse Gas Emissions (Facilities)

Participated in the development of more than 840 MW of solar photovoltaic projects.

200 MW of solar photovoltaic projects under construction.

All data and information in this case study are as of December 31, 2016, unless otherwise noted.


Global energy consumption is predicted to increase by 48 percent between 2012 and 2040, according to the U.S. Energy Information Administration, with a significant portion generated by fossil fuels. Importantly, approximately 65 percent of this demand growth is expected to come from developing economies in Asia, Africa, and South America.i Harnessing the power of alternative energy sources around the world will be increasingly important in managing the environmental impacts associated with this rising energy demand.

KKR infrastructure portfolio company X-ELIO specializes in the development, construction, operation, and maintenance of solar photovoltaic plants globally. The company currently owns operating assets in Spain, Italy, South Africa, Japan, the United States, Puerto Rico, Honduras, Peru, and Chile. As of June 2017, the company had participated in the development of more than 840 megawatts (MW) of photovoltaic projects and currently has 200 MW of photovoltaic projects under construction.


X-ELIO is a leader in the global solar photovoltaic sector due to its ability to achieve scale, invest capital, and drive innovation with its technological focus and extensive capabilities. As a provider of sustainable, renewable energy, X-ELIO has a mission and a mandate, which are aligned with reducing greenhouse gas emissions and increasing access to clean energy in developed and emerging markets.


In 2016, X-ELIO’s portfolio of international solar photovoltaic assets generated approximately 455 gigawatts of clean energy, a 14 percent increase from 2015. That is enough to provide electricity to more than 151,000 homes for one year and to avoid more than 193,900 metric tons of greenhouse gas emissions.

i U.S. Energy Information Administration. "EIA Projects 48% Increase in World Energy Consumption by 2040." 12 May 2016. Web. 26 May 2016.

ii Self-reported portfolio company data is not calculated, reviewed or independently verified by KKR or KKR Capstone. For more information regarding the results methodology for companies evaluating their own data, please see the methodology section. There is no guarantee that any GSP-related avoided costs or added efficiencies will positively impact the portfolio company’s valuation or performance.

Unless otherwise noted, portfolio company data represents 2016 results, published in October 2017. These case studies may contain forward looking statements including descriptions of planned projects and projected results and savings. These statements are subject to the risk that the projects will not develop as planned or at all or that projected results and savings are not realized.