Global investment firm KKR has partnered with CleanPeak Energy, investing A$500 million to expand CleanPeak’s distributed energy platform in Australia. This funding will help develop solar, battery storage, and micro-grid solutions for the commercial and industrial (C&I) sector.
CleanPeak Energy, co-founded by Philip Graham and Jon Hare in 2017, provides integrated solar and storage systems for major Australian corporations and operates over 50 generation sites, with more than 140 MW of solar assets and 35 MWh of battery storage projects. The company is also managing over $200 million in ongoing construction projects.
KKR’s investment comes through its Global Climate Transition strategy, marking its first foray into the Asia-Pacific region and its sixth global deal. KKR has committed over US$34 billion to climate and environmental sustainability since 2010.
This deal is expected to close in the second half of 2025, pending regulatory approvals.
KEY QUOTES:
“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.”
Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia
“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.”
CleanPeak Chief Executive Philip Graham
“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.”
Jon Hare, CleanPeak’s Chief Operating Officer
