KKR, SK Inc launch Korea’s large renewable energy venture amid AI, chip boom
SK Telecom Co. at the World IT Fair held in Seoul, South Korea on Wednesday, April 22, 2026. artificial intelligence data center solutions at the booth.
Seong Joon Cho | Bloomberg | Getty Images
US private equity giant KKR will take management control of a new $1.3 billion renewable energy platform in South Korea, deepening its bet on growing demand for clean energy from chipmakers and AI data centers.
KKR and SK Inc. It said on Wednesday it would launch what it described as South Korea’s largest renewable energy platform, worth 2 trillion won ($1.3 billion), and integrate wind, solar and fuel cell assets previously held across the conglomerate’s businesses.
The platform will start with an operating capacity of 1.7 gigawatts and then scale to 10 gigawatts, the companies said in a statement; that’s enough to power 100 large-scale, 100-megawatt data centers simultaneously.
KKR will retain initial management control of the initiative, bringing together the renewable businesses and assets of various subsidiaries within the SK Group, including SK Innovation, SK ecoplant and SK eternix. SK will participate as an equity investor and retain the option to seek control rights in future negotiations.
The new initiative will help South Korea meet growing demand for clean energy from AI data centers, semiconductor production lines and other major industrial needs, KKR said in a statement.
The announcement comes after South Korea announced three major investment projects on Monday covering semiconductors, physical AI and AI data centres. SK Group, the country’s second largest holding company, said: It is planned to invest an average of 100 trillion won annually expanding semiconductor manufacturing and building AI data centers.
“Korea is one of Asia’s most attractive renewable energy markets, supported by strong corporate clean energy demand from the semiconductor, data center and manufacturing sectors,” said KKR partner Keith Kim.
KKR is financing the deal through its Asia Pacific infrastructure strategy, which has invested more than $31 billion in the energy transition and renewable energy globally since 2011.
The Korean platform adds to KKR’s renewable energy portfolio in the region, which includes investments in India-based Serentica Renewables and Australian companies CleanPeak Energy and Zenith Energy.
The deal also comes at a time when SK Group continues to build on its years-long efforts. “value increase plan” including the sale of assets and restructuring efforts to reduce debt leverage. SK said it was part of a broader effort to sharpen the platform’s portfolio and improve capital efficiency.
