KKR to take management control of $1.3 billion renewable energy platform with SK in South Korea

According to CNBC, KKR will take initial management control of a new renewable energy platform in South Korea valued at 2 trillion won ($1.3 billion) that it is launching with SK Inc. The companies said the venture will integrate wind, solar and fuel cell assets previously held across SK Group businesses, starting with 1.7 gigawatts of operating capacity and aiming to scale to 10 gigawatts; SK will invest equity and retain an option to seek control rights in future talks. The platform will combine assets from SK subsidiaries including SK Innovation, SK ecoplant and SK eternix, and KKR said it is funding the deal through its Asia Pacific infrastructure strategy, which has invested more than $31 billion in energy transition and renewables globally since 2011.