CleanPeak Energy has completed the acquisition of five solar and battery energy storage system (BESS) development sites in New South Wales (NSW) from Fortitude Renewables, adding 25MW of solar capacity and 100MWh of battery storage to its portfolio.
The transaction includes four completed projects at Ashley, Gunnedah, Dubbo and Culcairn, with a fifth site at Warialda subject to completion of development approval.
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Each acquired project features development approval and connection agreements for 5MW solar facilities paired with battery storage systems.
The projects are scheduled to enter construction in 2026 and achieve operational status by early 2027. Once operational, the portfolio is projected to generate approximately 90GWh annually and to produce around 85,000 Large-scale Generation Certificates (LGCs).
Philip Graham, CEO of Clean Peak Energy, described the acquisition as enabling immediate construction to commence.
“The acquisition of the shovel-ready Fortitude portfolio allows us to move straight into construction, accelerating the delivery of green energy to our contracted customers,” Graham stated.
The transaction represents the first acquisition since Clean Peak Energy announced its strategic partnership with global investment firm KKR.
US private equity firm KKR committed AU$500 million (US$335 million) to CleanPeak Energy to support the rollout of distributed energy resources, including rooftop solar PV, battery storage and micro-grid solutions across Australia’s commercial and industrial sector.
The acquisition was funded through shareholder equity and follows CleanPeak Energy’s recent completion of an AU$465 million debt refinancing for its funding vehicle CPE Renewable Investment Unit Trust (CPERI), launched via a joint venture with Igneo Infrastructure Partners.
Clean Peak Energy specialises in developing, building, owning and operating solar, battery storage, embedded network and thermal energy infrastructure for major Australian corporations and governments seeking sustainability transitions.
The company’s approach allows clients to avoid upfront capital costs and technology risks associated with distributed energy deployment.
In October 2024, CleanPeak Energy bought two solar PV plants in NSW from Dutch solar project developer and asset owner Photon Energy Group, with a combined generation capacity of 14.5MW.
The deal, which was worth €6 million (US$7 million), resulted in a €1.5 million loss for Photon Energy Group.
The completed assets will support new customer supply contracts, including agreements with organisations such as Harris Farm and NAB.
The NSW projects will utilise bifacial modules on trackers, string inverters, and liquid-cooled containerised batteries under unified energy management systems and fleet-wide SCADA for enhanced reliability and reduced operations and maintenance costs. Near-load siting is expected to shorten approval cycles and reduce transmission losses.
