SK Inc. and KKR launch $1.3B renewable energy platform in Korea

SK Inc. and KKR (NYSE: KKR) have signed definitive agreements to establish a renewable energy platform in South Korea, valued at KRW 2 trillion (approximately $1.3 billion), according to a joint press release.

The platform will consolidate renewable energy assets from SK affiliates — SK Innovation, SK ecoplant, and SK eternix — covering solar, onshore and offshore wind, and fuel cells. It currently has approximately 1.7 gigawatts of capacity in operation, with a development pipeline intended to bring total capacity to 10 gigawatts.

KKR will hold management control of the platform in its initial phase, while SK will participate as an equity investor with the option to pursue control rights through future discussions. KKR is funding the investment primarily through its Asia Pacific infrastructure strategy.

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."

The platform is structured to serve large industrial electricity consumers, including AI data centers and semiconductor manufacturing facilities. KKR states it has over $100 billion in infrastructure assets under management and has invested more than $31 billion in energy transition and renewables infrastructure since 2011.

SK described the transaction as part of a broader portfolio rebalancing effort aimed at improving capital efficiency across its subsidiaries.

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