KKR forms $600M energy transition partnership with HMC Capital

HMC Capital (HMCLF) and KKR (KKR) announced the establishment of a new strategic partnership under which KKR-managed funds will invest up to $603M into HMC’s Energy Transition Platform. The investment will introduce KKR as a strategic partner alongside HMC in the Platform’s existing 652MW operational assets and its 5.7GW BESS and wind development pipeline. KKR’s investment will support the Platform’s continued expansion, including the development of new battery storage and wind projects critical to grid reliability and Australia’s energy transition. This transaction establishes the foundation for HMC and KKR to significantly scale the existing Platform and identify growth opportunities. KKR is funding this investment from its Global Climate Transition strategy. The firm has committed more than $44B to climate and environmental sustainability investments since 2010. This marks KKR’s second Climate investment in Australia, following CleanPeak, an Australian distributed energy platform. The transaction is expected to close in mid-2026, subject to customary regulatory approvals.