Global investment firm KKR has entered into a strategic partnership with CleanPeak Energy, an Australian renewable energy platform, to launch a new A$500 million distributed energy initiative aimed at reshaping Australia’s commercial and industrial energy landscape.
The joint venture is designed to advance the development, ownership, and operation of distributed renewable energy assets across the country.
This ambitious collaboration is expected to deploy advanced energy infrastructure such as rooftop solar, battery energy storage systems (BESS), and behind-the-meter technologies to help Australian businesses and government clients reduce emissions and enhance energy reliability—without the need for large-scale grid upgrades.
Creating a National Network of Localized Renewable Assets
At the core of the partnership is a vision to create a decentralized, customer-centric energy ecosystem. CleanPeak Energy, known for its experience in operating behind-the-meter solar and battery systems, will oversee the origination, construction, and operation of these energy assets.
The platform will focus on developing integrated energy solutions that combine on-site renewable generation with digital energy management to deliver lower energy costs and improved sustainability outcomes.
With KKR’s financial muscle and global experience in infrastructure and energy investments, the new platform is positioned to rapidly scale its operations and provide tailor-made energy solutions for Australia’s growing commercial, industrial, and institutional sectors.
Accelerating New Climate Targets
This joint venture arrives at a critical time as Australia intensifies efforts to meet its climate targets. Many large energy users are actively seeking ways to transition away from traditional energy sources toward localized renewables that provide control over supply and pricing while reducing carbon footprints.
The new platform is expected to deliver an estimated 2,000 GWh of clean electricity over its initial phase, offsetting tens of thousands of tons of CO2 annually.
The model prioritizes flexibility, allowing clients to deploy solar-plus-storage systems on rooftops, car parks, and underutilized land, with options for long-term power purchase agreements (PPAs).
Part of KKR’s Global Clean Energy Strategy
The investment will be made through KKR’s Asia Pacific Infrastructure Investors fund, reinforcing the firm’s growing portfolio of sustainable infrastructure assets.
Globally, KKR has committed more than US$15 billion to energy transition projects, including renewable generation, electrification, and grid modernization.
This partnership is also expected to foster job creation across Australia’s clean energy value chain, including roles in engineering, construction, digital energy services, and long-term operations.
Leadership Comments
David Lang, Partner and Co-Head of KKR Australia and New Zealand, said:
“This partnership with CleanPeak aligns strongly with KKR’s global strategy to support energy transition efforts through scalable, distributed infrastructure. As Australian businesses increasingly seek energy resilience and decarbonization, we see tremendous potential in distributed energy systems to meet this demand sustainably.”
Jonathan Hare, CEO of CleanPeak Energy, added:
“Our collaboration with KKR is a major milestone in expanding our distributed renewable energy footprint. This platform will allow us to offer a reliable, clean, and cost-effective energy solution to a wider range of customers—from hospitals and schools to industrial precincts and urban developments.”
