SK and KKR have signed definitive agreements to establish a renewable energy platform in South Korea. Under the agreement, funds managed by KKR and SK will consolidate renewable energy assets previously held by SK affiliates into a single platform. The portfolio will include solar, onshore wind, offshore wind and fuel cell assets.
The platform, with a total value of KRW 2 trillion (about US$1.3 billion), is intended to support rising demand for electricity from artificial intelligence data centres, semiconductor manufacturing and other industrial users. KKR will initially hold management control of the platform, while SK will participate as an equity investor and retain the option to negotiate future control rights.
The platform will bring together renewable energy businesses and assets from SK Innovation, SK ecoplant and SK eternix, covering the full value chain from development and construction through to operation and maintenance. It will manage a portfolio across multiple renewable technologies, excluding hydrogen, including solar, onshore wind, offshore wind and fuel cells.
