en.Wedoany.com Reported - South Korean company SK Inc. and global investment firm KKR have announced the joint launch of South Korea's largest renewable energy platform, valued at 2 trillion Korean won (approximately $1.3 billion). The two parties have signed a final agreement, with funds managed by KKR partnering with SK to establish this platform, integrating renewable energy assets previously held by SK affiliates, covering solar, onshore and offshore wind power, fuel cells, and other areas.
The platform will consolidate renewable energy businesses and assets from SK Innovation, SK ecoplant, and SK eternix, covering the entire value chain from development and construction to operation and maintenance. In the initial phase, KKR will hold management control, with SK participating as an equity investor and retaining the flexibility to gain control through future discussions. The platform currently operates approximately 1.7GW of capacity, with a development pipeline that will bring total capacity to 10GW, expected to continuously power 100 large-scale 100MW-level data centers simultaneously. SK and KKR stated that this initiative aims to leverage their respective expertise in operational experience and renewable energy investment to meet the surging demand for clean energy from South Korea's artificial intelligence data centers, semiconductor production lines, and other large-scale industries.
KKR Partner Keith Kim stated that KKR, in collaboration with strategic partner SK, which possesses local operational capabilities, is jointly establishing a large-scale renewable energy platform capable of providing reliable clean electricity to South Korea's most demanding industrial users. KKR is one of the world's most active infrastructure investors, managing over $100 billion in infrastructure assets, with this investment primarily coming from its Asia-Pacific infrastructure strategy. The firm has invested over $31 billion in energy transition and renewable energy infrastructure since 2011. SK plans to use this platform as an opportunity to strengthen its renewable energy business foundation, support growth, and advance its portfolio restructuring.
This platform will become South Korea's largest renewable energy business, managing a portfolio covering all renewable energy generation areas except hydrogen, including solar, offshore and onshore wind power, and fuel cells. KKR is a leading global investment firm providing alternative asset management and capital market and insurance solutions. SK Inc. is the holding company of the SK Group, with approximately 150 subsidiaries, actively adjusting its portfolio to enhance sustainability and competitiveness.
