Asset manager KKR has announced a $335mn investment to support CleanPeak Energy, an Australian specialist in solar and energy storage solutions for the commercial and industrial sector. This agreement aims to foster the growth of a portfolio of distributed energy projects in Australia, as business demand for reliable and competitive energy solutions increases.
Deployment of distributed solar in the Australian commercial sector
Co-founded in 2017 by Philip Graham and Jon Hare, CleanPeak Energy now operates over 50 production sites nationwide, with a total capacity exceeding 140 MW in solar and 35 MWh in battery storage. The company is currently overseeing more than $134mn in projects under construction for commercial and industrial clients.
This investment marks the first operation of KKR’s Global Climate Transition strategy in the Asia-Pacific region. It comes at a time when major Australian companies are seeking new models to control their energy costs and reduce dependence on traditional grids.
Strengthening competitiveness through distributed infrastructures
According to Neil Arora, Partner at KKR and Head of the Climate Transition strategy for Asia, the collaboration with CleanPeak Energy relies on the complementarity between the local operational platform and KKR’s international expertise in energy and infrastructure. “By combining our resources, we can pave the way for competitive solutions for companies looking to optimise their energy spending,” he stated.
Philip Graham, Chief Executive Officer of CleanPeak Energy, emphasised that KKR’s financial backing will support further growth through acquisitions and expand the range of distributed energy solutions offered to professional customers. Jon Hare, Chief Operating Officer, notes that reducing network costs through distributed energy is a major advantage for business clients.
A signal for regional energy transition momentum
Since 2010, KKR has committed more than $34bn to investments related to climate transition and environmental sustainability, including Zenobē in the United Kingdom, EGC in Germany, Dawsongroup, Avantus, and IGNIS P2X. The operation with CleanPeak Energy is the group’s sixth global transaction under the Global Climate Transition strategy.
CleanPeak Energy’s management believes that KKR’s contribution could accelerate the rollout of decentralised energy solutions for the benefit of Australia’s economic landscape. The sector is witnessing rapid evolution in supply and increased competition among providers in the business energy market.
