SK, KKR Launch Korea’s Largest Renewable Energy Platform

KKR and SK Inc., the holding company of South Korea’s SK Group, have announced the launch of Korea’s largest renewable energy platform, valued at approximately $1.3 billion.

The platform consolidates renewable energy assets previously held across SK affiliates — including solar, onshore and offshore wind, and fuel cell projects — into a single integrated vehicle. KKR will hold management control in the platform’s initial phase, with SK participating as an equity investor and retaining the right to pursue control through future negotiations.

The platform launches with approximately 1.7 gigawatts of operating capacity and a development pipeline expected to bring total capacity to 10 gigawatts — sufficient to simultaneously power 100 large-scale, 100-megawatt-class data centers. The transaction deepens an existing relationship between KKR and SK built across multiple prior collaborations.

“Korea is one of Asia’s most attractive renewable energy markets, underpinned by strong corporate demand for clean power from the semiconductor, data center, and manufacturing sectors,” Keith Kim, partner, KKR.

KKR is making the investment primarily through its Asia Pacific infrastructure strategy. The firm manages more than $100 billion in infrastructure assets globally and has deployed more than $31 billion into energy transition and renewables infrastructure since 2011.