KKR Invests in SK Renewable Assets to Form $1.3 Billion Platform
(Bloomberg) -- South Korean conglomerate SK Inc. and US investment firm KKR & Co. are launching a Korea-focused renewable energy joint venture valued at 2 trillion won ($1.3 billion), the companies said in a press release.
SK is bringing together renewable assets and businesses, including solar, wind and fuel cells, from its subsidiaries SK Innovation, SK ecoplant and SK eternix, according to the release. KKR is making an investment of undisclosed value from its Asia Pacific infrastructure investments, it said.
The new firm describes itself as Korea’s largest renewable energy business, and will have about 1.7 gigawatts of operating capacity with a development pipeline that could grow that to 10 gigawatts, according to the release. KKR will have management control initially.
South Korea’s power sector is dominated by nuclear and coal and gas, with wind and solar accounting for just 6.7% of total generation in 2024, according to BloombergNEF data. President Lee Jae Myung is pushing for more renewables to help reduce carbon emissions, while also expanding electricity output to ensure supply for building more data centers and semiconductor factories.
©2026 Bloomberg L.P.
