KKR and South Korea's SK Inc announced on July 1 they will launch the country's largest renewable energy platform, valued at 2 trillion won (approximately $1.3 billion) [1, 2]. The platform will integrate renewable assets from SK Innovation, SK ecoplant, and SK eternix, including solar power, onshore and offshore wind, and fuel cells [1, 2].
At launch, the platform will have about 1.7 gigawatts of operational capacity. It aims to expand to 10 gigawatts, enough to power roughly 100 large-scale 100-megawatt data centers, reflecting soaring demand from AI data centers and semiconductor manufacturing in South Korea [1, 2].
KKR will hold a 51% ownership stake and initial management control, while SK Inc will own 49% and participate as an equity investor. SK may gain future control rights [1, 2]. Keith Kim, partner at KKR, said, "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" [2].
KKR's Asia Pacific infrastructure strategy has invested over $31 billion globally in energy transition and renewables since 2011, demonstrating strong commitment to clean energy development [2]. SK Group plans to invest about 100 trillion won annually to expand semiconductor production and AI data centers, supporting demand growth for clean power [2].
The renewable energy platform is expected to officially launch by the end of 2026 [1].
