Global investment firm KKR will acquire independent power producer Zenith Energy from a consortium including Pacific Equity Partners, OPSEU Pension Trust, and Foresight Group, with Zenith’s founder and management retaining a minority stake.
Zenith specialises in the delivery of sustainable and reliable hybrid power solutions for remote, off-grid resource sector clients and urban microgrids for commercial, industrial, and residential precincts.
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The company has more than 710MW contracted capacity across approximately 15 sites, secured under long-term contracts.
KKR managing director ANZ Andrew Jennings said, “Zenith’s position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia Pacific infrastructure platform.
“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. We look forward to supporting Zenith and its management team over the next stage of growth and helping them capitalise on the significant opportunity for off-grid renewable power.”
Zenith CEO and managing director Hamish Moffat said, “We are excited by the opportunity presented by KKR’s investment in the company and its strategy, which is a strong validation of Zenith’s capabilities and competitive edge.
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The investment by KKR will accelerate our growth and ability to service large scale projects with a broad capital base. Today’s announcement positions the company to continue providing our distinct value proposition via these unique remote energy solutions to our existing clients, while enabling us to pursue a robust pipeline of new opportunities as Australia’s mining sector intensifies its decarbonisation efforts.”
The transaction is expected to close in late 2025, subject to customary regulatory approvals.
