SYDNEY: Global investment firm KKR has signed definitive agreements to acquire Zenith Energy, an independent power producer specializing in hybrid power solutions, from a consortium of investors. Zenith’s founder and management will retain a minority stake in the company.
The deal positions Zenith for long-term growth, supported by strong sector fundamentals and macroeconomic tailwinds. The company, which provides power solutions for remote mining operations and urban microgrids, has more than 710 megawatts of contracted capacity across approximately 15 sites in Australia.
“Zenith’s leadership in hybrid power solutions and its established relationships make it an ideal investment for KKR’s Asia Pacific infrastructure platform,” Andrew Jennings, KKR’s head of Australia & New Zealand infrastructure, said in a statement.
Zenith CEO Hamish Moffat described KKR’s investment as a validation of the company’s capabilities and an opportunity to expand its support for Australia’s mining sector’s decarbonization efforts. The company recently completed a A$1.9 billion refinancing, securing over A$1 billion in growth capital from lenders, including green loan facilities.
The transaction, funded through KKR’s Asia Pacific Infrastructure Investors II Fund, is expected to close in late 2025, pending regulatory approval.