KKR takes $500m punt on solar and storage play CleanPeak Energy
The investment in CleanPeak Energy is being made under the global powerhouse's climate transition strategy, which has so far committed more than $US34 billion ($51.9 billion) to climate and environmental sustainability ventures.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AU Financial Review
14 hours ago
- AU Financial Review
KKR takes $500m punt on solar and storage play CleanPeak Energy
Private equity giant KKR is ploughing $500 million into a solar and storage start-up co-founded by a former Citi banker, in a landmark investment in the sector targeting rooftop panels and battery installations on shopping centres and industrial premises. The investment in CleanPeak Energy is being made under the global powerhouse's climate transition strategy, which has so far committed more than $US34 billion ($51.9 billion) to climate and environmental sustainability ventures.
West Australian
6 days ago
- West Australian
BHP hits year-to-date share price peak as iron ore reaches $US105/t on China's big dam build and steel cuts
China's mega-dam build helped spark an iron ore price revival that has lifted shares in Australia's largest mining company to a 2025 high, but Beijing's clampdown on steel mill cannibalisation is stoking uncertainty. Iron ore futures in Singapore jumped $US1.60 per tonne on Tuesday to trade at $US105/t ($161) after leaping over the $US100/t ($153) barrier late last week. This benchmark price has now rallied 11 per cent since touching lows of $US92/t ($141) less than a month ago — defying predictions by local and international banks that the commodity's value drop would below $US90/t ($138) this year. Iron ore's recent price spike has been attributed to China starting construction on the world's biggest hydropower dam in Tibet. The dam, once complete, will reportedly generate the same amount of energy each year as the entire United Kingdom. The $255 billion infrastructure project requires significant volumes of steel and subsequently boosts demand for steel-making ingredient iron ore. Shares in Australia's major iron ore producers have recorded strong gains over the past few trading days and continued the ascent on Tuesday. Stock in BHP, Australia's biggest miner by market value, rose 2.6 per cent to $41.51 —its highest level since December. Rio Tinto finished up 3.4 per cent at $118.32 and Fortescue lifted 3.3 per cent to $17.81. But Commonwealth Bank analyst Vivek Dhar said the Tibet dam breaking ground was 'unlikely' the sole reason iron ore has rebounded beyond $US100/t. 'We continue to attribute most of the price increase to supply‑side reform in the steel sector,' he said. 'These reforms primarily aim to curb 'involution,' whereby intense competition and overcapacity has crushed margins across several industries.' Competition between China's steel mills has eaten into profit margins, jeopardising the steady supply of steel to the Asian powerhouse's key manufacturing and property sectors. This has led Beijing to intervene with orders limiting steel output across China. How this plays out for iron ore in the longer-term is difficult to predict, according to Mr Dhar. Mandated steel output cuts mean mill owners are usually willing to pay a premium for iron ore, but lower output means an iron ore oversupply could then emerge and drag the commodity's price down. Mr Dhar believes the oversupply scenario is likely. 'It is this logic that underpins our view that the recent rally in iron ore prices is unsustainable,' he said. 'It's worth noting that it is possible for supply‑side reform in China's steel sector to result in sustainably higher iron ore prices. We would need to see outdated and unused steel capacity exit the market.' Citi analyst Paul McTaggart echoed Mr Dhar's sentiment. 'Citi remains cautious on this iron ore rebound; steel production cuts in China should favour steel pricing rather than iron ore pricing,' Mr McTaggart told clients. 'However, for now the interest seems to lie with iron ore and its exposed equities.' Mr Dhar said CBA is predicting iron ore will fall to $US95/t by year's end. Australia's biggest bank had originally expected iron ore to sink to $US80/t this year.
Sydney Morning Herald
04-07-2025
- Sydney Morning Herald
Trump's $942 million windfall reshapes his fortune
On the surface, Donald Trump's personal net worth looks remarkably unchanged since retaking the White House: $US6.5 billion ($9.9 billion) on election day, $US6.4 billion now. But digging deeper into the figures reveals an unprecedented and unmistakable shift in how he and his family are buttressing their empire — and how much more quickly they stand to potentially profit from their fame, influence and power. Whether it's putting their brand on real estate projects or attaching it to perfumes and mattresses, licensing deals have long been used by the Trump family to make money fast compared with the years of planning and execution needed in real estate development. But with crypto, the Trumps can turbocharge the monetisation of their name. Combined with loosened constraints on foreign dealmaking in the second Trump administration, it has been a bonanza. Crypto ventures have added at least $US620 million ($942 million) to Donald Trump's fortune in the span of months, according to the Bloomberg Billionaires Index, which is valuing his family's earnings from projects like World Liberty Financial and the Trump memecoin for the first time. The money made from an expanding line-up of virtual tokens and obscure companies deriving their value largely from their association with the president and his MAGA movement dwarfs the more than $US34 million the Trump Organisation reported taking in from real estate licensing deals last year. 'I am incredibly proud of our wonderful company,' said Eric Trump, executive vice president of the Trump Organisation. 'We have never been stronger.' Loading While the president's assets are in a trust administered by Donald Trump Jr, he continues to personally benefit from the success of the Trump Organisation, and Bloomberg's wealth index rolls up the family's various interests to the patriarch. For now, many private ventures that Trump's children are engaged in haven't been included because the details of their financial interests couldn't be determined, including the private club Executive Branch in Washington, Japanese hotel company-turned-Bitcoin stockpiler Metaplanet, radio and podcasting outfit Salem Media, prediction-market startup Kalshi and online drug retailer BlinkRX. For as much as Trump and his children are wading into crypto — Eric and Don Jr have spoken, sometimes independently and sometimes together, at events in Abu Dhabi, Washington, Dubai and Las Vegas since December alone — one of the biggest boosts to his personal fortune has been a project close to home that was years in the making.
