Zenobe in Talks With KKR on $750 Million to Push UK Green Energy

US private equity giant KKR & Co.is in talks to invest $750 million in UK energy storage company Zenobe Energy Ltd., according to people familiar with the matter.

The investment would be a first step in KKR’s new global strategy to participate in the transition to a greener economy through companies like Zenobe, the people said. The storage firm runs grid-scale batteries and provides charging and battery infrastructure for electric vehicle fleets.

The parties are discussing a potential valuation of $900 million for Zenobe before the injection of any new money is taken into account, the people said. ...