Key facts
- KKR and SK Inc. are launching South Korea's largest renewable energy platform.
- The platform is valued at approximately $1.3 billion (2 trillion South Korean won).
- It will combine 1.7 GW of operational clean energy capacity with a development pipeline aiming for 10 GW.
- The initiative aims to supply clean power to South Korea's AI data centers and semiconductor manufacturing sectors.
- KKR will hold initial management control, with SK participating as an equity investor.
Global investment firm KKR and South Korea's SK Inc. are establishing the country's largest renewable energy platform, valued at approximately $1.3 billion, to address the escalating power demands from AI data centers and semiconductor manufacturing.
The platform will initially combine 1.7 gigawatts (GW) of operational clean energy capacity with a development pipeline projected to reach 10 GW. This scale is intended to provide a reliable, large-scale source of clean power for South Korea's most demanding industrial users, capable of powering around 100 large-scale data centers simultaneously.
KKR will manage the platform in its initial phase, while SK Inc. will act as an equity investor, with future discussions planned for control rights. This initiative aligns with South Korea's goal to generate at least 20% of its power from renewables by 2030, up from the current 11%, a target emphasized by the Ministry of Climate, Energy, and Environment in response to global energy security concerns.
KKR sees South Korea as a highly attractive market for renewable energy, driven by strong corporate demand. The partnership aims to create a leading, scaled renewable energy platform to supply reliable clean power to the nation's key industrial sectors. In a separate but related transaction, KKR is also acquiring EDF Power Solutions North America for $4.2 billion, securing over 5.6 GW of operating renewable assets.