KKR to acquire Zenith Energy, terms not disclosed

KKR (KKR) announced the signing of definitive agreements to acquire Zenith Energy, a independent power producer, from a consortium including Pacific Equity Partners, OPSEU Pension Trust, and Foresight Group, with Zenith’s founder and management retaining a minority stake. KKR’s investment will position Zenith well for continued long-term growth on the back of favorable sector fundamentals and macro tailwinds. Andrew Jennings, Managing Director and Head of Australia & New Zealand Infrastructure, KKR, 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.” The transaction is expected to close in late 2025, subject to customary regulatory approvals.