KKR, CleanPeak Launch A$500M Distributed Energy Platform

KKR Commits A$500 Million to CleanPeak Energy to Launch Distributed Energy Platform in Australia

Global investment powerhouse KKR has entered into a strategic partnership with CleanPeak Energy through a substantial A$500 million investment aimed at accelerating the growth of Australia’s distributed energy market. The agreement, announced today, will see KKR-managed funds support CleanPeak in expanding its portfolio of solar energy, battery storage, and microgrid projects, focusing primarily on the country’s commercial and industrial (C&I) sector.

Transforming Australia’s C&I Energy Landscape

CleanPeak Energy, established in 2017 by co-founders Philip Graham and Jon Hare, has rapidly established itself as a prominent player in Australia’s renewable energy market. The company specializes in fully financed, integrated solar and battery storage solutions for corporate clients. Currently, CleanPeak operates more than 50 distributed generation sites nationwide. These include over 140 megawatts (MW) of solar capacity and 35 megawatt-hours (MWh) of Battery Energy Storage System (BESS) projects.

In addition to existing operations, CleanPeak is actively constructing over A$200 million worth of distributed renewable energy infrastructure, underscoring its growth trajectory and increasing relevance in Australia’s transition toward net-zero emissions. Its distributed energy model emphasizes the deployment of renewable technologies directly at or near customer sites, enabling greater energy independence, reliability, and cost control.

A Market at a Critical Juncture

According to Neil Arora, KKR Partner and Head of the firm’s Climate Transition strategy for Asia, Australia’s C&I energy segment is reaching a pivotal moment.

“Corporates across the country are urgently seeking dependable, scalable, and economically viable clean energy alternatives,” said Arora. “Our partnership with CleanPeak is a significant step in enabling businesses to decarbonize efficiently. CleanPeak’s proven platform, when combined with KKR’s international reach, operational capabilities, and climate investing experience, opens up extensive possibilities for distributed energy adoption.”

The collaboration is intended to serve as a growth engine for CleanPeak, empowering the company to meet surging demand from corporates that are under increasing pressure to improve energy efficiency, cut carbon emissions, and reduce energy expenses. Arora emphasized that the timing is ideal, as a rising number of Australian corporations commit to environmental, social, and governance (ESG) goals and seek resilient energy alternatives amid rising electricity prices and grid reliability concerns.

CleanPeak’s Vision for Rapid Expansion

For CleanPeak, this strategic alliance with KKR represents more than just a capital infusion — it marks the beginning of a new growth phase. The funding will be used to scale operations, develop new projects, and pursue strategic acquisitions that strengthen its renewable energy platform.

“KKR is an ideal strategic partner for us,” said Philip Graham, Chief Executive Officer of CleanPeak. “They bring not only financial resources but also an unparalleled depth of experience in energy transition markets globally. With KKR’s support, CleanPeak will be in a stronger position to deliver innovative net-zero energy solutions and significantly accelerate our expansion strategy.”

Jon Hare, CleanPeak’s Chief Operating Officer, added that the company’s business model plays a direct role in lowering customer electricity bills by reducing reliance on expensive grid infrastructure. “Our distributed approach helps minimize network charges — a major cost component of retail electricity — making clean energy more accessible and affordable for Australian corporates,” Hare noted.

KKR’s Broader Commitment to Climate and Energy Transition

KKR’s investment in CleanPeak is being made through its Global Climate Transition strategy, which focuses on investing in companies and assets that drive decarbonization and environmental sustainability. This is the first transaction under this strategy in the Asia-Pacific region and the sixth globally, reinforcing KKR’s view that climate-related investments represent a transformative opportunity both commercially and environmentally.

“CleanPeak’s business model aligns perfectly with the objectives of our Global Climate Transition strategy,” said Arora. “It’s about enabling resilient, lower-emission infrastructure that delivers value for businesses and contributes meaningfully to the decarbonization journey.”

Over the past decade, KKR has committed more than US$34 billion toward investments in climate and environmental sustainability. Some of its key climate-focused investments include:

  • Zenobē: A UK-based company offering transport electrification and grid-scale battery storage solutions.
  • EGC: A German provider of energy services with a focus on renewable technologies and energy efficiency.
  • Dawsongroup: A UK-headquartered independent asset leasing business supporting decarbonization across logistics and other sectors.
  • Avantus: A leading U.S. developer of solar and solar-plus-storage energy infrastructure.
  • IGNIS P2X: An industrial decarbonization platform focused on producing green hydrogen and other Power-to-X (P2X) technologies.

These investments exemplify KKR’s commitment to deploying capital in sectors and companies with a tangible impact on reducing greenhouse gas emissions while generating long-term value for investors.

A Strategic Partnership with Long-Term Impact

The CleanPeak partnership stands out due to its potential to directly benefit energy consumers in one of the world’s most carbon-intensive economies. Australia’s energy sector, still heavily reliant on fossil fuels, is under increasing scrutiny to adopt more sustainable practices. With government policies encouraging renewable energy adoption and with rising power costs impacting industrial productivity, distributed energy solutions like those offered by CleanPeak are becoming essential.

By focusing on on-site generation and storage, CleanPeak helps corporates achieve immediate reductions in emissions and energy costs without the need for large-scale infrastructure overhauls. The financial backing from KKR ensures that the company can scale its offerings to more customers and regions quickly and efficiently.

Furthermore, CleanPeak’s approach supports Australia’s broader decarbonization goals. The Federal Government has committed to reducing national emissions by 43% by 2030 (compared to 2005 levels) and achieving net-zero by 2050. Accelerating investment in distributed solar and battery storage plays a vital role in reaching those targets, particularly within the high-energy-use C&I segment.

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