AI data center solutions at the SK Telecom Co. booth at the World IT Show on Wednesday, April 22, 2026 in Seoul, South Korea.
Cho Sung Joon | Bloomberg | Getty Images
US private equity giant KKR has taken control of a new $1.3 billion renewable energy platform in South Korea, deepening its bet on growing demand for clean power from chipmakers and artificial intelligence data centers.
KKR and SK Inc. on Wednesday announced the launch of what they describe as South Korea’s largest renewable energy platform, worth 2 trillion won ($1.3 billion), combining 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 will subsequently expand to 10 gigawatts. This is enough capacity to simultaneously power 100 large 100-megawatt data centers, the companies said in a statement.
KKR will consolidate renewable businesses and assets from multiple subsidiaries under the SK Group, including SK Innovation, SK Ecoplant and SK Etanics, and will take initial management control of the venture. SK will participate as an equity investor and will have the option to seek management rights through future discussions.
KKR said in a statement that the new venture will help South Korea meet the burgeoning demand for clean power from AI data centers, semiconductor production lines and other large-scale industrial needs.
The announcement comes after South Korea announced three major investment projects across semiconductors, physical AI, and AI data centers on Monday. SK Group, the country’s second-largest conglomerate, announced that it plans to invest an average of 100 trillion won annually to expand semiconductor production and build an AI data center.
“Korea is one of Asia’s most attractive renewable energy markets, supported by strong corporate demand for clean power from the semiconductor, data center and manufacturing sectors,” said Keith Kim, KKR Partner.
KKR is funding the deal through its Asia Pacific Infrastructure Strategy, which has invested more than $31 billion in energy transition and renewable energy worldwide since 2011.
The Korean platform joins 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 transaction comes as SK Group continues to pursue its long-standing value enhancement plan, including asset sales and restructuring efforts to reduce debt leverage. SK said the platform is part of a broader effort to strengthen its portfolio and improve capital efficiency.
