Law360 (July 3, 2019, 2:25 PM EDT) — Brookfield Renewable Partners, led by CMS, said Wednesday it will commit roughly $500 million to form a joint venture with KKR, where the companies will split ownership of solar power plant developer and operator X-Elio.

Brookfield Renewable Partners LP said it has agreed to form a joint venture with KKR & Co Inc. for Spain’s X-Elio, where Brookfield will buy 30% of KKR’s stake and 20% from Acek Solar Energy, the renewable energy-focused unit of European multinational industrial group Acek.

Under the joint venture structure, Brookfield and KKR will jointly govern the X-Elio board of directors. The deal is expected to…

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