01 Jul SK and KKR Launch Renewable Energy Platform in Korea
London, (Oilandgaspress) – SK Inc. and KKR announced the signing of definitive agreements under which funds managed by KKR and SK will launch Korea’s largest renewable energy platform valued at KRW 2 trillion (~$1.3 billion). Through this newly established platform (“Platform”), SK and KKR will bring together renewable energy assets previously held by SK affiliates spanning solar, onshore and offshore wind, and fuel cells into a single, integrated platform, tapping into each company’s respective operational experience and renewables investment expertise.
The launch of the Platform marks the latest transaction between KKR and SK, deepening a longstanding relationship built across multiple collaborations. It will help Korea meet the surging demand for clean power from AI data centers, semiconductor production lines, and other large industrial needs. KKR will have management control of the platform in its initial phase, with SK participating as an equity investor and retaining the flexibility to pursue control rights through future discussions.
By bringing together renewable businesses and assets from SK Innovation, SK ecoplant, and SK eternix, the Platform integrates the entire value chain, from development and construction through to operation and maintenance, enhancing economies of scale and operational efficiency. The Platform will manage a portfolio covering all areas of renewable energy generation – except hydrogen – including solar, offshore and onshore wind, and fuel cells.
The Platform will be Korea’s largest renewable energy business, with approximately 1.7GW of capacity currently in operation and a development pipeline that will bring the total capacity to 10GW, which is capable of simultaneously and continuously powering 100 large-scale, 100MW-class data centers. At this scale, the Platform is well positioned to become a reliable, large-scale source of clean power for Korea’s most demanding industrial users, from AI data centers to global semiconductor production lines, and more.
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