KKR, a prominent alternative asset and private equity investor, has formed a strategic partnership with Australian solar energy company CleanPeak Energy. This collaboration involves a commitment of A$500 million (USD$325 million) to expedite the expansion of CleanPeak Energy’s distributed energy platform. The investment will facilitate the development of a pipeline comprising distributed solar, battery storage, and micro-grid solutions tailored for Australia’s commercial and industrial sector.
Established in 2017 by Philip Graham and Jon Hare, CleanPeak Energy currently operates over 50 distributed energy generation sites across Australia. These include more than 140MW of solar assets and 35MWh of battery energy storage systems. The company is actively managing over A$200 million in construction projects, with plans underway for an additional 100MW of solar and 300MWh of battery projects.
The funding from KKR is poised to support CleanPeak’s expansion into rooftop solar, utility-scale solar, battery storage, and microgrid projects. Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia, expressed confidence in the partnership, highlighting the potential to unlock significant opportunities for corporate customers aiming to decarbonise and reduce energy costs.
This deal represents KKR’s first investment in the Asia Pacific region and the sixth globally under its [Global Climate Transition Strategy](https://www.esgtoday.com/kkr-launches-new-leadership-team-for-global-climate-strategy/), which was launched in August 2023. The strategy is dedicated to investing in large-scale solutions to support the transition to a low-carbon economy.
The transaction is expected to conclude in the second half of 2025, pending regulatory approvals. It underscores the increasing demand for distributed renewable energy solutions within Australia’s commercial and industrial sectors. CleanPeak’s Chief Operating Officer, Jon Hare, noted that their distributed energy approach significantly reduces network costs, resulting in more competitive power prices for customers.
