KKR and SK Inc. launch $1.3 billion renewable-energy platform
KKR will initially control the South Korean venture, which starts with 1.7 gigawatts and is aimed at rising clean-power demand from AI data centers and chip production.
KKR and SK Inc. said Wednesday they are launching a 2 trillion won ($1.3 billion) renewable-energy platform in South Korea, with KKR taking initial management control as the venture targets rising electricity demand from AI data centers, semiconductor production lines and other industrial users. The companies described it as the country’s largest renewable-energy platform, combining wind, solar and fuel cell assets from SK Group affiliates including SK Innovation, SK ecoplant and SK eternix. The platform will begin with 1.7 gigawatts of operating capacity and is planned to scale to 10 gigawatts, which the companies said would be enough to power 100 large-scale 100-megawatt data centers simultaneously. SK will remain an equity investor and keep the option to seek control rights through future talks. The launch comes as South Korea pushes major investment in semiconductors, physical AI and AI data centers, and as SK Group advances a broader value-up plan focused on asset sales, restructuring and improving capital efficiency.
- fuel cell: A technology that generates electricity through an electrochemical reaction rather than combustion.
- gigawatt: A unit of power capacity equal to 1 billion watts, often used to measure power plants or electricity portfolios.
- renewable-energy platform: An investment vehicle or operating business that owns and manages a portfolio of clean-power assets.