Latest news with #batterystorage
Reuters
8 hours ago
- Business
- Reuters
Portugal to invest $466 million to boost grid management, battery storage after outage
LISBON, July 28 (Reuters) - The Portuguese government plans to invest up to 400 million euros ($466 million) to improve grid management and boost battery storage following a massive blackout across Spain and Portugal in April. Energy Minister Maria da Graca Carvalho said on Monday about 137 million euros of the investment would go towards improving the operational and control capacity of the electricity grid to help it deal with complex intermittent renewable power sources such as wind and solar. The Spanish government said in a report last month that grid operator Redeia ( opens new tab had miscalculated the correct mix of energy in the system on April 28, but also blamed some thermal power plants using coal, gas and nuclear, for failing to help maintain an appropriate voltage level. A surge in voltage triggered a cascade of power plant disconnections, leading to the outage that spread to Portugal, which was importing electricity at the time. Portuguese grid operator REN ( opens new tab will install a so-called shunt device to accurately measure electrical current and prevent overloads as well as equipment to regulate voltage, improve power system stability and ensure consistent energy delivery, according to the plan. Carvalho said that unlike in the past, when thermal power plants helped grid management with their stable supply, more renewable sources mean more intermittent and decentralised output which is harder to manage. "We have to make our grid more secure, digital and modern ... to support this new, more complex energy production model," she told a press conference, adding that the government would prepare a decree to speed up implementation of the investments. She also said the planned storage increase aimed to prevent a shutdown of the country, providing greater energy autonomy to critical infrastructure such as hospitals, fire departments, security forces, and other key public administration services. Portugal has only about 13 megawatts of battery storage capacity, and the goal is to reach 750 megawatts, although no timetable has been set yet. According to the latest daily data from REN, electricity consumption in Portugal stood at 115 GWh on June 20. ($1 = 0.8581 euros)
Yahoo
13 hours ago
- Business
- Yahoo
KKR invests in CleanPeak Energy to expand solar solutions in Australia
Investment company KKR has agreed to invest A$500m ($328.2m) in CleanPeak Energy to enhance the distributed energy platform in Australia. The strategic partnership will bolster the development and growth of distributed solar, battery storage and microgrid solutions within the commercial and industrial sector. CleanPeak Energy, co-founded by Philip Graham and Jon Hare in 2017, is a provider of fully financed, integrated solar and storage systems for blue-chip corporates across the country. The company has more than 50 distributed generation sites, including more than 140MW of solar assets and 35 megawatt hours (MWh) of battery energy storage system projects. CleanPeak is currently executing more than A$200m in construction projects within the sector. CleanPeak CEO Philip Graham stated: '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.' The investment from KKR is sourced from its Global Climate Transition strategy, marking its first venture in the Asia-Pacific region and its sixth transaction worldwide. The transaction is anticipated to conclude in the second half of 2025, pending customary regulatory approvals. KKR climate transition strategy for Asia partner and head Neil Arora stated: 'Australia's C&I [commercial and industrial] energy market is at an inflection point as corporates seek bankable pathways to better energy efficiency, reliability and affordability. '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.' KKR has also recently finalised agreements to acquire Zenith Energy, an Australian independent power producer. This acquisition from a consortium of Pacific Equity Partners, Canada's OPSEU Pension Trust (OPTrust) and the Foresight Group will enable Zenith to extend its renewable and hybrid energy solutions across Australia's remote and energy-intensive sectors. "KKR invests in CleanPeak Energy to expand solar solutions in Australia" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
13 hours ago
- Business
- Forbes
KKR To Invest $328 Million In Australian Solar Company CleanPeak Energy
Solar panels. New York-based KKR has agreed to invest A$500 million ($328 million) in Sydney-based CleanPeak Energy as the U.S. private equity giant seeks to grow its renewable energy footprint across the Asia Pacific. CleanPeak will use the funding to develop its solar, battery storage, and microgrid projects across Australia, according to a statement released on Sunday. 'Australia's commercial and industrial 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. The deal—which comes a month after KKR agreed to buy Zenith Energy, one of Australia's largest independent power producers—is slated to be completed later this year, subject to regulatory approvals. Since 2010, KKR has committed over $34 billion to climate and sustainability projects, including investments in companies such as U.K.-based Zenobē, Germany's EGC, and Avantus in the U.S. Founded in 2017 by Philip Graham and Jon Hare, CleanPeak runs more than 50 energy projects across Australia, with an existing capacity of over 140 megawatts from solar power and 35 megawatt-hours of battery storage facilities. It has a pipeline of over $200 million worth of energy projects. '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,' Jon Hare, CEO of CleanPeak said in the statement.
Associated Press
a day ago
- Business
- Associated Press
KKR Forms A$500 Million Strategic Partnership with CleanPeak Energy to Launch New Distributed Energy Platform
SYDNEY--(BUSINESS WIRE)--Jul 27, 2025-- 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. This press release features multimedia. View the full release here: 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 ExecutivePhilip 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 View source version on CONTACT: Media Contacts For KKR: Wei Jun Ong + 65 6922 5813 [email protected] James Strong +61 (0)448 881 174 [email protected] For CleanPeak: Stephanie Graham +61 425 393 616 [email protected] KEYWORD: AUSTRALIA/OCEANIA AUSTRALIA ASIA PACIFIC INDUSTRY KEYWORD: ENVIRONMENT TECHNOLOGY CLIMATE CHANGE OTHER ENERGY ALTERNATIVE ENERGY SUSTAINABILITY GREEN TECHNOLOGY ENERGY BATTERIES SOURCE: KKR Copyright Business Wire 2025. PUB: 07/27/2025 06:00 PM/DISC: 07/27/2025 06:01 PM
BBC News
2 days ago
- Business
- BBC News
Plans lodged for solar farm in Derbyshire to power 18,000 homes
Plans have been lodged for a solar farm and battery energy storage system in Power has submitted an application to South Derbyshire District Council to construct the development on land next to the A50 in to planning documents, the solar farm, capable of powering 18,000 homes, would cover an area of about 121 acres (49 hectares) across eight add that the site would provide "clean, renewable energy" that would not result in pollution to the soil or air and would "save approximately 20,000 tonnes of CO2 emissions each year". If approved, the development would take between 12 and 18 months to construct and would be decommissioned after 40 years.A decision is due to be made on the application by 17 October.
