HMC Capital and KKR announced they have established a strategic partnership under which KKR-managed funds will invest up to $603 million into HMC’s Energy Transition Platform. The investment would add KKR as a strategic partner alongside HMC to the platform’s existing 652MW of operational assets, its 5.7 GW battery energy storage system, and its wind development pipeline.
The companies said KKR’s investment is intended to support the platform’s continued expansion, including the development of new battery storage and wind projects positioned as critical to grid reliability and Australia’s energy transition. They also said the transaction is designed to provide a foundation for scaling the platform and pursuing additional growth opportunities with the platform’s management team.
HMC Capital CEO David Di Pilla said the partnership validates the platform and is expected to help accelerate growth in operating capacity and cash flow while advancing the development pipeline. KKR Partner Neil Arora said Australia’s energy system is at a pivotal moment as renewable generation expands and described battery storage as key flexible infrastructure needed to keep the grid secure and reliable.
Julia Gillard, chair of the Energy Transition Platform, said bringing KKR in as a strategic partner is a pivotal step toward building what she described as a world-class renewables business aligned with Australia’s net zero ambitions. The companies said the transaction is expected to close in mid-2026, subject to customary regulatory approvals.
KEY QUOTES
“We are delighted to be working with an experienced global investor of KKR’s calibre. KKR’s investment validates the quality of the Platform we have built and sets the foundation for HMC to play a major role in Australia’s transition to net zero carbon by 2050. KKR’s capital will enable the Platform to materially grow operating capacity, cash flow and progress the strategically valuable development pipeline.”
David Di Pilla, Managing Director And CEO, HMC Capital
“As renewable generation in Australia continues to expand, the country’s energy system is at a pivotal moment. Delivering Australia’s ambition will require investment in flexible infrastructure such as battery storage to keep the grid secure and reliable. We are pleased to support HMC Capital’s leading operating platform, and by leveraging KKR’s global network, operational expertise, and deep experience across our climate, energy and infrastructure teams, we are well positioned to scale this platform and contribute meaningfully to Australia’s decarbonization objectives.”
Neil Arora, Partner And Head Of KKR’s Climate Transition Strategy For Asia, KKR
“The introduction of KKR as a strategic partner marks a pivotal step in the Platform’s ambition to build a world class renewables business which can play a major role in helping Australia achieve its clean energy commitments. In KKR, we are delighted to have a collaborator with deep global relationships and expertise to help the Platform deliver on its goal to be a national champion of Australia’s transition to a net zero economy by 2050.”
Julia Gillard AC, Chair Of Energy Transition Platform, HMC Capital
