KKR to acquire Zenith Energy’s 710 MW hybrid assets in Australia

KKR, a global investment firm, has signed definitive agreements to acquire Zenith Energy, an Australia-based IPP. Zenith Energy operates over 710MW of contracted hybrid capacity across approximately 15 sites, supplying power to off-grid mining operations and urban microgrids. Zenith has adopted a Build–Own–Operate model and combines renewable and thermal energy sources to deliver reliable, lower-emission power systems. According to KKR, the acquisition will be funded through its Asia Pacific Infrastructure Investors II Fund and supports its infrastructure strategy in the region. Zenith’s founder Doug Walker and the company’s management team will retain a minority ownership stake. The transaction is pending regulatory approvals and anticipated to close late 2025. KKR has made a majority stake purchase in US-based solar development company Avantus in 2024 to increase its clean energy investments.