KKR will invest A$500 million in CleanPeak Energy to expand distributed solar, battery storage, and microgrid projects for Australia’s commercial and industrial sector.
This marks the first Asia-Pacific investment under KKR’s Global Climate Transition strategy and its sixth global deal in the sector.
CleanPeak currently operates 50+ distributed generation sites and is managing over A$200 million in construction projects.
Global investment firm KKR has announced a A$500 million (US $335 million) strategic investment in CleanPeak Energy, marking the launch of a new distributed energy platform in Australia and KKR’s first Asia-Pacific deal under its Global Climate Transition strategy.
The partnership aims to accelerate CleanPeak’s pipeline of solar, battery storage, and microgrid solutions tailored for Australia’s commercial and industrial (C&I) sector. Founded in 2017 by Philip Graham and Jon Hare, CleanPeak already operates more than 50 distributed generation sites, including over 140MW of solar assets and 35MWh of battery energy storage. The company is currently delivering more than A$200 million in active construction projects.
“Australia’s C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability,” said Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia. “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.”
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CleanPeak CEO Philip Graham highlighted the importance of KKR’s backing: “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.”
Jon Hare, CleanPeak’s Chief Operating Officer, added, “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.”
The investment continues KKR’s momentum in global climate-focused investments, bringing its total commitment in climate and environmental sustainability to over US$34 billion since 2010. Previous investments include Zenobē in the UK, Germany’s EGC, Dawsongroup, Avantus in the US, and IGNIS P2X.
The transaction is expected to close in the second half of 2025, pending customary regulatory approvals.
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