KKR to control South Korea's $1.3 billion renewables platform with SK as AI power demand rises

AI data center solutions at the SK Telecom Co. booth in the World IT Show in Seoul, South Korea, on Wednesday, April 22, 2026. SeongJoon Cho | Bloomberg | Getty Images U.S. 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 power from chipmakers and artificial intelligence data centers. KKR and SK Inc. said Wednesday they will launch what they described as South Korea's largest renewable energy platform, valued at 2 trillion won ($1.3 billion), integrating wind, solar and fuel cell assets previously held across the conglomerate's businesses. The platform will start with 1.7 gigawatts of operating capacity before scaling to 10 gigawatts — enough to power 100 large-scale, 100-megawatt data centers simultaneously, the companies said in a statement. KKR will hold initial management control in the venture, bringing together renewable businesses and assets from several subsidiaries under SK Group, including SK Innovation, SK ecoplant, and SK eternix. SK will participate as an equity investor and retains the option to seek control rights through future talks. The new venture will help South Korea meet the surging demand for clean power from AI data centers, semiconductor production lines, and other large industrial needs, KKR said in a statement. …