CleanPeak and KKR ink $324.68m deal for new distributed energy platform

This will close in H2 2025.

CleanPeak Energy and global investment firm KKR have signed definitive agreements that will inject US$324.68m (AU$500m) into the former’s distributed energy platform.

In a statement, CleanPeak said the investment will support its “growing and developing a pipeline of distributed solar, battery storage and microgrid solutions for Australia’s commercial and industrial sector.

“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,” said Neil Arora, Partner and Head of KKR’s Climate Transition strategy for Asia.

KKR is making this investment from its Global Climate Transition strategy, making the project its first in Asia-Pacific and its sixth transaction globally.

“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,” said CleanPeak COO Jon Hare.

The transaction is expected to close in the second half, subject to customary regulatory approvals.

US$1 = AU$1.54