KKR acquires Australian IPP Zenith Energy

Zenith has over 700 MW of contracted capacity.

Global investment firm KKR has acquired Zenith Energy, an Australian independent power producer from a consortium including Pacific Equity Partners, OPSEU Pension Trust, and Foresight Group.

“Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific,” said Andrew Jennings, managing director and head of Australia & New Zealand (ANZ) Infrastructure, KKR.

Zenith specialises in hybrid power solutions for remote, off-grid resource sector clients and urban microgrids for commercial, industrial, and residential precincts. It currently has 710 megawatts of contracted capacity across 15 sites, secured under long-term contracts.

Following the takeover, KKR said Zenith’s founder and management would retain a minority stake in the company.

Zenith’s CEO and Managing Director Hamish Moffat said this investment “will accelerate our growth and ability to service large-scale projects with a broad capital base.”

The transaction is expected to close in late 2025, subject to customary regulatory approvals.