KKR and SK Launch $1.3 Billion Renewable Energy Platform in South Korea

The new platform is valued at KRW 2 trillion, or about $1.3 billion. It will combine renewable energy assets held across SK affiliates, including solar, onshore and offshore wind, and fuel cells, excluding hydrogen. The platform currently has 1.7 GW of operating capacity and a development pipeline expected to bring total capacity to 10 GW. KKR will initially have management control, while SK will participate as an equity investor. KKR said the transaction is funded through its Asia Pacific infrastructure strategy.