KKR to Run New $1.3 Billion South Korea Renewable Platform While SK Group Keeps Minority Stake

Cnbc reported that KKR will take management control of a new renewable energy platform in South Korea valued at 2 trillion won ($1.3 billion). The platform integrates wind, solar and fuel cell assets previously held across SK Group businesses, including those from SK Innovation, SK ecoplant and SK eternix.

The platform begins with 1.7 gigawatts of operating capacity and aims to scale to 10 gigawatts, a level the companies said would power 100 large-scale 100-megawatt data centers at once.

KKR will hold initial management control while SK participates as an equity investor and retains the option to seek control rights through future talks. The announcement followed South Korea's disclosure on Monday of three major investment projects in semiconductors, physical AI and AI data centers.

SK Group stated it planned to invest an average of 100 trillion won a year to expand semiconductor production and build AI data centers.

"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," said Keith Kim, a KKR partner. KKR is funding the deal through its Asia Pacific infrastructure strategy, which has invested more than $31 billion into energy transition and renewables globally since 2011.

The Korea platform adds to KKR's regional holdings that include India-based Serentica Renewables and Australian companies CleanPeak Energy and Zenith Energy.

SK Group described the platform as part of its broader "value-up plan" to sharpen its portfolio and improve capital efficiency.