Funds managed by global investment firm KKR are investing A$500m (€279m) in CleanPeak Energy to help the Australian renewable energy firm expand its distributed energy platform.
KKR said the investment will support CleanPeak in growing and developing a pipeline of distributed solar, battery storage and micro‑grid solutions for Australia’s commercial and industrial sector.
Founded in 2017, CleanPeak provides fully financed, integrated solar‑and‑storage systems to major corporates across Australia. The company manages over 50 distributed generation sites, including over 140MW of solar assets and 35MWH of battery energy storage system projects, with over $200m in construction projects currently underway.
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, operational expertise, and deep experience across our energy and infrastructure teams, we are well-positioned to unlock significant opportunities for corporate customers looking to decarbonise and reduce their energy bills.”
Philip Graham, CleanPeak CEO, said: “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. Together, we will deliver reliable, lower‑carbon energy for corporate Australia.”
Jon Hare, CleanPeak’s COO, said: “CleanPeak’s distributed energy approach reduces network costs which make up a significant portion of the all-in cost of retail electricity and results in more competitive power prices for our customers.”
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