KKR has acquired an 80% stake in solar photovoltaic plant developer Gestamp Solar, which has changed its name to X-ELIO following the deal’s close. The transaction gave X-ELIO a total enterprise value of about $1 billion. Founded in 2005, the company specializes in the development, construction, operation and maintenance of solar plants in several countries, including the U.S., India, Japan, South Africa and Spain. X-ELIO has set a target to have up to 2.5 GW of installed capacity in operation by 2020. KKR invested through KKR Global Infrastructure Investors II, a $3.1 billion vehicle.