Investment firm KKR has announced plans to invest A$500m in CleanPeak Energy, supporting the expansion of distributed solar, battery storage, and microgrid solutions across Australia’s commercial and industrial sectors.
Founded in 2017 by Philip Graham and Jon Hare, CleanPeak Energy delivers fully financed, integrated solar and storage systems for corporate clients nationwide.
The company operates over 50 distributed generation sites, with a portfolio exceeding 140MW of solar assets and 35MWh of battery storage. It is currently undertaking more than A$200m in construction projects.
CleanPeak CEO Philip Graham 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.”
The investment will come through KKR’s Global Climate Transition strategy, representing its first investment in the Asia-Pacific region and the sixth globally. Completion is expected in the second half of 2025, subject to regulatory approvals.
Neil Arora, partner and head of KKR’s climate transition strategy for Asia, commented: “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.”
KKR recently agreed to acquire Zenith Energy from a consortium of Pacific Equity Partners, OPTrust, and the Foresight Group.
