Australian infrastructure firm Spark to be sold in US$3.72bn deal

August 23, 2021
Facebook
Twitter
LinkedIn
Reddit
Email
Spark Infrastructure own and operate a 120MW solar farm in New South Wales. Image: Spark Infrastructure

Australian energy infrastructure investor Spark Infrastructure is to be acquired by a consortium led by US private equity group KKR in a deal worth US$3.72 billion, according to a filing with Australia’s Securities Exchange.  

Other consortium members include Canada’s Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Spark’s board said it unanimously recommended the bid in the absence of a better offer. The deal valued the Sydney-based company’s shares at AUS$2.95 (US$2.11) each. Spark had rejected previous offers by the consortium of AUS$2.7 and AUS$28, saying they undervalued the company.

Shareholders are expected to vote on the bid at the end of this year, according to the filing.  

Spark owns and operates the 120MW Bomen Solar Farm in New South Wales through its Spark Renewables division, which is also intending to develop a 2.5GW renewable energy hub in New South Wales. It also owns minority stakes in a range of Australian energy and grid companies, including a 49% stake in SA Power Networks and Victoria Power Networks

“The investments we have made in distribution, transmission and renewables put Spark Infrastructure front and centre of Australia’s low-emissions energy future. We are pleased this has been recognised in the Scheme consideration agreed with the Consortium,” said Rick Francis, managing director at Spark Infrastructure.

Spark Infrastructure was advised by Goldman Sachs and Herbert Smith Freehills.

Read Next

October 27, 2025
Premier Energies has acquired a 51% stake each in transformer maker Transcon and inverter producer KSolare Energy. 
October 27, 2025
Australian solar developer, BNRG Leeson, has submitted plans for a 440MW solar PV facility in Victoria's Campaspe Shire to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.
Sponsored
October 23, 2025
Tongwei's rooftop-focused TNC 2.0 G12R-48 module will be among the products on show at All Energy Australia next week.
October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 23, 2025
Queensland's rooftop solar systems have exceeded 5GW of output for the first time, marking a milestone in Australia's solar expansion.
October 22, 2025
The Queensland government has launched the Social Licence in Renewable Energy Toolkit, providing local councils in Australia with resources to navigate renewable energy project engagement and community consultation processes.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany