The UK-based energy storage player will also expand its electric bus fleet here after raising $1.7 billion from investors.
UK-based electric bus player Zenobe Energy is readying a push into the competitive grid-scale battery sector in Australia after raising about £870 million from investors led by private equity giant KKR.
The Zenobe team in Sydney in November 2022 Peter Keane, director, corporate finance; Nicholas Beatty, founder director; James Basden, founder director; Gareth Ridge country director, Au/NZ.“We’d expect Australia and New Zealand to represent one-third of business in the next two to three years, and raising this level of capital in a very difficult market is really exciting for us,” Mr Beattie said from the UK.
The capital raising, announced overnight Australian time, involves about £600 million from KKR and about £270 million from existing shareholder, Infracapital, a division of London-listed investment manager MOnce completed, KKR and Infracapital will be joint majority owners in Zenobe, with Japanese energy giants JERA and Tepco Power Grid remaining as minority shareholders.driven by increasing tenders for electrified transportation from state governments.
He said that with the beefed-up equity investment and supported by debt funding, “we can fund a very large number of vehicles at competitive rates for the operators, and also provide the engineering services alongside that as part of what we offer our customers”.In large batteries, Zenobe’s activity so far in Australia has been limited to a bid to build one project, which it did not pursue because it did not have the local team to support it.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
KKR deal makers fasten seat belts for Queensland Airports LtdPrivate equity giant KKR is gearing up for a run at a 40 per cent stake in Queensland Airport Limited, which is up for sale via Barrenjoey.
Read more »
PM ‘pleased’ with Malaysia lifting restrictions on Australian cattlePrime Minister Anthony Albanese says he is “pleased” with Malaysia lifting its trade restrictions on Australian cattle due to lumpy skin disease. “I’m pleased when it comes to LSD that Malaysia has lifted the restrictions on its trade, I’m pleased that Australian and Indonesian officials working through these issues,” Mr Albanese said during a press conference on Wednesday in Jakarta, Indonesia.
Read more »
‘Detriment of the Australian flying public’: Dutton criticises government’s Qatar decisionOpposition Leader Peter Dutton has criticised the decision made by the Labor government to reject Qatar Airways' proposal to add more Australian routes. “This government is costing through this decision Australians thousands of dollars through their airfares when they seek to travel internationally,' Mr Dutton said during Question Time on Wednesday.
Read more »
Australian man in US jail after horror wrong side of the road crashA West Australian man is in a US jail after allegedly killing two people while accidentally driving on the wrong side of the road last week.
Read more »
Australian man in US jail after horror wrong side of the road crashA West Australian man is in a US jail after allegedly killing two people while accidentally driving on the wrong side of the road last week.
Read more »
Australian bull sets world record price with 'mind-blowing' $150k saleThe sellers had listed Shady with a reserve of $6,000 and say they still can't quite believe the result of the auction in NSW.
Read more »