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HMC Capital Clears All Conditions for KKR Energy Platform Deal

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HMC Capital (ASX:HMC) confirmed that all conditions precedent for its strategic partnership with KKR in the HMC Energy Platform have been satisfied, including approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, with completion expected around June 30, according to a Friday Australian bourse filing.

KKR-managed funds will invest up to AU$603 million in the platform, including AU$355 million at closing and a further AU$248 million to support development of its first battery energy storage system, per the filing.

The company will also earn a AU$35 million establishment fee in fiscal year 2026, and its invested capital in the platform will fall to about AU$190 million upon completion, the filing said.

The platform will be rebranded as Illuma Energy following the close of the transaction and the integration of StorEnergy with the Neoen Victorian portfolio, the filing added.

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