KKR and CleanPeak Energy Launch A$500 Million Distributed Energy Platform Partnership

07/27/2025 – 06:00 PM

Deal marks Global Climate Transition strategy’s first foray into the Asia-Pacific market

SYDNEY – In a significant bet on Australia’s burgeoning renewable energy sector, global investment heavyweight KKR has announced a definitive agreement to inject A$500 million into CleanPeak Energy. This strategic partnership aims to supercharge CleanPeak’s distributed energy platform, focusing on solar, battery storage, and microgrid solutions tailored for the commercial and industrial (C&I) sectors across the nation.

CleanPeak, founded in 2017 by Philip Graham and Jon Hare, has rapidly established itself as a leading player in providing fully financed, integrated solar-and-storage systems to blue-chip companies throughout Australia. With a portfolio spanning over 50 distributed generation sites, including more than 140MW of solar assets and 35MWh of Battery Energy Storage Systems (BESS), CleanPeak is currently managing over $200 million in construction projects.

Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia, highlighted the opportune timing of the investment. “Australia’s C&I energy market stands at a pivotal moment, with corporations actively seeking reliable and cost-effective pathways to enhance energy efficiency,” Arora stated. “By uniting CleanPeak’s proven operational model with KKR’s extensive global network, operational prowess, and deep experience across energy and infrastructure, we are ideally positioned to unlock substantial value for corporate customers aiming to decarbonize their operations and reduce energy expenses.”

CleanPeak Chief Executive Philip Graham echoed the sentiment, welcoming KKR as the ideal strategic partner. “KKR brings profound expertise in the energy transition, robust financial backing, and a collaborative mindset that will enable CleanPeak to continue delivering net-zero solutions while accelerating our growth through strategic acquisitions,” Graham noted. “Together, we will provide reliable, lower-carbon energy solutions for corporate Australia.”

Jon Hare, CleanPeak’s Chief Operating Officer, emphasized the economic benefits of their distributed energy approach. “CleanPeak’s model reduces network costs, which constitute a significant portion of overall electricity expenses, resulting in more competitive power prices for our customers,” Hare explained.

KKR’s investment, channeled through its Global Climate Transition strategy, signifies the firm’s first venture into the Asia-Pacific region under this initiative, and its sixth transaction globally. This underscores KKR’s strong belief in the potential of the energy transition. Since 2010, KKR has committed over US$34 billion to climate and environmental sustainability investments, including companies like Zenobē (UK), EGC (Germany), Dawsongroup, Avantus, and IGNIS P2X.

The transaction is anticipated to finalize in the latter half of 2025, pending customary regulatory approvals.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About CleanPeak

CleanPeak is a specialist renewable energy company in Australia empowering large industrial & commercial businesses to reduce their carbon emissions & transition to net zero. CleanPeak specialises in designing, building, owning and operating renewable energy assets, and associated infrastructure. By integrating state-of-the-art solar, battery and thermal energy assets, CleanPeak delivers energy solutions that are affordable, reliable and sustainable. CleanPeak’s operating portfolio consists of over 40 MW of rooftop solar, 100 MW of utility solar projects and 35 MWh of battery projects, as well as microgrids providing energy and thermal services for more than 1,000,000 square meters of floorspace. CleanPeak has a further 100 MW of solar and 300 MWh of battery projects in the pipeline.

CleanPeak’s internal EPC capability drives superior design and delivery outcomes, tailored to the needs of individual clients. Our asset management capabilities are underpinned by proprietary IT systems that optimise performance, efficiency, and resilience. With its own retail electricity license, CleanPeak is uniquely positioned to supply power directly to end-users, offering flexible, customer-first retail solutions that minimise cost and carbon footprint. Whether it is powering large commercial precincts or integrating behind-the-meter solutions, CleanPeak connects the dots from project design through to renewable generation and distribution.

For additional information about CleanPeak, please visit https://cleanpeakenergy.com.au. 

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Source: KKR