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KKR, South Korea-Based SK Launch Renewable Platform With Plans for 10-GW Capacity

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South Korean investment firm SK has signed agreements enabling funds it managed jointly with KKR (KKR), to launch the country's largest renewable energy platform valued at 2 trillion Korean won ($1.3 billion), the companies said on Tuesday.

The platform will bring together existing SK renewables assets that span solar, onshore and offshore wind plus fuel cells, into a single, integrated platform, tapping into SK and KKR's respective areas of operational and investment expertise, a statement said.

The launch deepens a long-term relationship between the two companies and will help Korea meet surging demand for clean power from AI data centers, semiconductor production lines and other industries.

Initially, KKR will have management control of the platform while SK will participate as an equity investor with the option to pursue control rights at a later date.

The platform will become Korea's largest renewable energy business with about 1.7 gigawatts of capacity in operation and a development pipeline that would take that total to 10 GW.

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