Investment firm KKR and SK Inc. have signed definitive agreements to launch Korea's largest renewable energy platform. Valued at roughly $1.3 billion, the venture consolidates solar, wind, and fuel cell assets previously held by various SK affiliates. KKR will hold management control during the initial phase, while SK remains an equity investor.

This move addresses a surge in clean power demand from semiconductor manufacturing and AI data centers. By integrating assets from SK Innovation, SK ecoplant, and SK eternix, the platform covers the entire value chain. This integration allows the partners to achieve economies of scale and improve operational efficiency across their diverse energy portfolio.

Currently, the platform operates 1.7GW of capacity with a pipeline targeting 10GW. This total capacity could power 100 large-scale data centers. SK is using the deal to rebalance its portfolio and improve capital efficiency, while KKR leverages its Asia Pacific infrastructure strategy to capture growth in the Korean market.

This partnership creates a scaled energy source for Korea's most demanding industrial users. The platform excludes hydrogen but focuses on the immediate power needs of the semiconductor and data center sectors. This deal marks the latest collaboration between the two firms to meet regional energy transition goals.