Global investment firm KKR has announced a A$500 million (US$328.2 million) investment in CleanPeak Energy to accelerate the development of distributed energy infrastructure across Australia’s commercial and industrial (C&I) sectors.
The strategic partnership is set to enhance CleanPeak’s rollout of integrated solar, battery storage, and microgrid solutions. Co-founded by Philip Graham and Jon Hare in 2017, CleanPeak provides fully financed renewable energy systems to major corporate clients and currently operates over 50 distributed generation sites. Its portfolio includes more than 140 megawatts (MW) of solar assets and 35 megawatt-hours (MWh) of battery storage projects. The company is presently delivering over A$200 million worth of construction projects.
Philip Graham, CEO of CleanPeak Energy, welcomed the partnership, stating: “KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers. They bring deep energy transition expertise, financial strength and a partnership mindset that will allow CleanPeak to continue to offer net-zero solutions at the same time as accelerating our growth plans through bolt-on acquisitions.”
The investment marks the first in the Asia-Pacific region under KKR’s Global Climate Transition strategy and represents the firm’s sixth transaction globally within the initiative. The deal is expected to close in the second half of 2025, subject to regulatory approvals.
Neil Arora, Partner and Head of KKR’s Climate Transition Strategy for Asia, said: “Australia’s C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability. By combining CleanPeak’s proven operating platform with KKR’s global network and infrastructure expertise, we are well-positioned to unlock significant opportunities for corporate customers looking to decarbonise and reduce their energy bills.”
In parallel, KKR has also finalised the acquisition of Zenith Energy, a leading independent power producer in Australia. Purchased from a consortium comprising Pacific Equity Partners, Canada’s OPSEU Pension Trust (OPTrust), and the Foresight Group, the deal will support Zenith’s expansion of renewable and hybrid energy systems across the country’s remote and energy-intensive industries.
