KKR, a global investment firm, has invested $750 million in UK-based fleet electrification and grid-scale battery storage company Zenobe. Reportedly, Zenobe got a GBP-600 million investment from KKR and GBP 270 million of equity from existing shareholder Infracapital, M&G Plc’s infrastructure equity investment arm. KKR and Infracapital will become joint majority shareholders when the deal is finalised. The deal is subject to customary post-closing conditions. Moreover, the capital infusion is planned to accelerate the business in the UK, Europe, North America, Australia, and New Zealand.
In May 2023, KKR agreed to buy $550 million in solar energy loans provided to SunPower Corp. customers. The US solar technology and energy services provider stated that the action will assist SunPower Financial’s ability to provide consumers with attractive lending options. By purchasing the loan portfolio, credit funds and accounts operated by KKR were able to increase SunPower’s capacity to provide additional solar loans to $1 billion.
