KKR Invests $500 Million in Australian Solar and Storage Firm CleanPeak Energy
New York-based investment powerhouse KKR is set to invest $500 million into CleanPeak Energy, an Australian company based in Sydney. This funding aims to support CleanPeak’s ambitious plans to implement solar, storage, and microgrid solutions within Australia’s commercial and industrial sectors.
The investment will be drawn from KKR’s managed funds, enabling CleanPeak to expand its portfolio of distributed solar, battery storage, and microgrid solutions tailored for the commercial and industrial (C&I) market across Australia.
Current Operations and Future Projects
CleanPeak currently manages over 50 distributed generation sites throughout Australia, boasting more than 40 megawatts (MW) of rooftop solar capacity, 100 MW of utility-scale solar, and 35 megawatt-hours (MWh) of battery energy storage projects. Additionally, the company operates microgrids that provide energy and thermal services for over 1 million square metres of commercial space.
Among CleanPeak’s notable projects are the 40 MW Wangaratta solar farm, the 15 MW Mugga Lane facility, and the 7.5 MW Moama solar farm. The company is also actively engaged in delivering construction projects valued at over $200 million, which will add another 100 MW of solar capacity and 300 MWh of battery storage to its portfolio.
Strategic Partnership and Growth Plans
Philip Graham, the CEO of CleanPeak, expressed enthusiasm about the partnership, stating, “KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers.” He highlighted KKR’s extensive expertise in energy transition, financial robustness, and collaborative approach, which will enable CleanPeak to continue providing net-zero solutions while accelerating growth through strategic acquisitions.
The $500 million investment is part of KKR’s Global Climate Transition strategy, marking its inaugural investment in the Asia-Pacific region and its sixth transaction on a global scale.
Market Insights and Future Opportunities
Neil Arora, a Partner and head of KKR’s Climate Transition strategy for Asia, noted that Australia’s C&I energy market is at a pivotal moment as businesses seek reliable and cost-effective energy solutions. He stated, “By combining CleanPeak’s proven operating platform with KKR’s global network, operational expertise, and extensive 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.”
