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Business Wire
a day ago
- Business
- Business Wire
KKR Forms A$500 Million Strategic Partnership with CleanPeak Energy to Launch New Distributed Energy Platform
SYDNEY--(BUSINESS WIRE)--Global investment firm KKR today announced the signing of definitive agreements under which funds managed by KKR will commit A$500 million to strategically partner with CleanPeak Energy ('CleanPeak') to rapidly grow its distributed energy platform. KKR's investment will support CleanPeak in growing and developing a pipeline of distributed solar, battery storage and micro‑grid solutions for Australia's commercial and industrial ('C&I') sector. Co-founded by Philip Graham and Jon Hare in 2017, CleanPeak is a leading provider of fully financed, integrated solar‑and‑storage systems for blue‑chip corporates across Australia. The company operates over 50 distributed generation sites across Australia including over 140MW of Solar Assets and 35MWH of Battery Energy Storage System ('BESS') projects, and is currently delivering over $200m of construction projects in the sector. 'Australia's C&I energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability,' said Neil Arora, Partner and Head of KKR's Climate Transition strategy for Asia. '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.' CleanPeak Chief Executive Philip Graham welcomed the strategic partnership, 'KKR is a perfect strategic partner for us as we seek to rapidly expand renewable energy solutions for our customers. They bring deep energy transition expertise, financial strength and a partnership mindset that will allow CleanPeak to continue to offer net zero solutions at the same time as accelerating our growth plans through bolt‑on acquisitions. Together, we will deliver reliable, lower‑carbon energy for corporate Australia.' '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 Jon Hare, CleanPeak's Chief Operating Officer. KKR is making this investment from its Global Climate Transition strategy. This investment marks the strategy's first in Asia-Pacific and its sixth transaction globally, underscoring KKR's conviction in the energy‑transition opportunity set. Since 2010, KKR has committed more than US$34 billion in climate and environmental sustainability investments. Past investments have included Zenobē, a UK-based transport electrification and battery storage solutions specialist; EGC, an energy service provider in Germany; Dawsongroup, an independent asset leasing business which provides a diverse range of business-critical solutions; Avantus, a solar and solar-plus-storage developer in the US; and IGNIS P2X, an industrial decarbonisation platform. The transaction is expected to close in H2 2025, subject to customary regulatory approvals. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at About CleanPeak CleanPeak is a specialist renewable energy company in Australia empowering large industrial & commercial businesses to reduce their carbon emissions & transition to net zero. CleanPeak specialises in designing, building, owning and operating renewable energy assets, and associated infrastructure. By integrating state-of-the-art solar, battery and thermal energy assets, CleanPeak delivers energy solutions that are affordable, reliable and sustainable. CleanPeak's operating portfolio consists of over 40 MW of rooftop solar, 100 MW of utility solar projects and 35 MWh of battery projects, as well as microgrids providing energy and thermal services for more than 1,000,000 square meters of floorspace. CleanPeak has a further 100 MW of solar and 300 MWh of battery projects in the pipeline. CleanPeak's internal EPC capability drives superior design and delivery outcomes, tailored to the needs of individual clients. Our asset management capabilities are underpinned by proprietary IT systems that optimise performance, efficiency, and resilience. With its own retail electricity license, CleanPeak is uniquely positioned to supply power directly to end-users, offering flexible, customer-first retail solutions that minimise cost and carbon footprint. Whether it is powering large commercial precincts or integrating behind-the-meter solutions, CleanPeak connects the dots from project design through to renewable generation and distribution. For additional information about CleanPeak, please visit
Time of India
5 days ago
- Business
- Time of India
JSW Energy signs 25-year electricity supply pact with BESCOM for solar project
JSW Energy on Thursday said that its step-down subsidiary, JSW Renew Energy Forty Five, has signed a 25-year power purchase agreement (PPA) with Bangalore Electricity Supply Company ( BESCOM ) for a grid-connected 100MW solar project with a 100MWh Battery Energy Storage System (BESS). 'The aforesaid project will be developed on a designated site and connected to the 220/400 kV KPTCL Firozabad substation in Kalaburagi district,' JSW Energy said in a regulatory filing. As per the statement, the PPA has been signed at a tariff of ₹4.31 per kWh. Subsequent to this the, company's total locked-in energy storage capacity stands at 29.4 GWh, including 3.0 GWh of BESS and 26.4 GWh of Pumped Hydro Storage. The company said it is well-positioned to achieve its target of 40 GWh of energy storage by 2030.
Business Standard
5 days ago
- Business
- Business Standard
JSW Energy arm inks pact with BESCOM for solar project
JSW Energy has announced that its step-down subsidiary, JSW Renew Energy Forty Five, has signed a power purchase agreement (PPA) with the Bangalore Electricity Supply Company (BESCOM). The agreement is for a grid-connected 100 MW solar project integrated with a 100 MWh Battery Energy Storage System (BESS). The project will be developed on a designated site and connected to the 220/400 kV KPTCL Firozabad substation in Kalaburagi district. The PPA has been signed for a tenure of 25 years at a tariff of Rs 4.31 per kWh. With this development, the companys total locked-in energy storage capacity now stands at 29.4 GWh, comprising 3.0 GWh of BESS and 26.4 GWh of pumped hydro storage. JSW Energy is well-positioned to achieve its target of 40 GWh of energy storage by 2030. JSW Energy is one of the leading private sector power producers in India and part of JSW group. It has established its presence across the value chains of power sector with diversified assets in power generation, and transmission. The companys consolidated net profit jumped 16.1% to Rs 408.05 crore on 15.7% increase in revenue from operations to Rs 3,189.39 crore in Q4 FY25 over Q4 FY24. The scrip shed 0.48% to Rs 531.15 on the BSE.
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Business Standard
5 days ago
- Business
- Business Standard
JSW Energy signs electricity supply pact with BESCOM for solar project
JSW Energy on Thursday said its step-down subsidiary JSW Renew Energy Forty Five has inked a power purchase agreement with Bangalore Electricity Supply Company (BESCOM) for a grid connected 100 MW Solar Project. The Power Purchase Agreement (PPA) has been signed for a tenure of 25 years at a tariff of Rs 4.31 per kWh. In a regulatory filing, the company said JSW Renew Energy Forty Five Ltd, a step-down subsidiary of JSW Energy, has signed power purchase agreement with BESCOM for a grid connected 100 MW solar project with 100 MWh Battery Energy Storage System (BESS). The aforesaid project will be developed on a designated site and connected to the 220/400 kV KPTCL Firozabad substation in Kalaburagi district, a company statement said. Subsequent to this, the company's total locked-in energy storage capacity stood at 29.4 GWh, including 3.0 GWh of BESS and 26.4 GWh of Pumped Hydro Storage. The company is well positioned to achieve its target of 40 GWh of energy storage by 2030. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
5 days ago
- Business
- Time of India
JSW Energy signs electricity supply pact with BESCOM for solar project with battery storage
Synopsis JSW Energy's subsidiary, JSW Renew Energy Forty Five, has secured a 25-year power purchase agreement with BESCOM for a 100 MW solar project coupled with a 100 MWh Battery Energy Storage System (BESS) at a tariff of Rs 4.31 per kWh. This agreement increases JSW Energy's total locked-in energy storage capacity to 29.
