SK, KKR to launch South Korea renewable energy venture valued at $1.3 bln (updated)
UPDATE 1-SK, KKR to launch South Korea renewable energy venture valued at $1.3 bln Adds details throughout
SEOUL, July 1 (Reuters) - Private equity firm KKR KKR.N and South Korea's SK Inc 034730.KS said on Wednesday they will launch the country's largest renewable energy platform, valued at 2 trillion won ($1.3 billion), to help meet rising clean-power demand from AI data centres and chip plants.
The platform will combine renewable energy assets from SK Innovation 096770.KS, SK ecoplant and SK eternix, spanning solar, onshore and offshore wind, and fuel cells, SK and KKR said in separate statements.
It will have about 1.7 gigawatts of operational capacity at launch and a development pipeline that would bring total capacity to 10 gigawatts, enough to power 100 large-scale 100-megawatt data centres, the companies said.
KKR will have initial management control of the platform, while SK will participate as an equity investor and may seek control rights through future talks, they said.
SK said KKR will own 51% of the venture and SK Inc 49%, with the integrated entity expected to officially launch by year-end.
(Reporting by Joyce Lee; Editing by Sonali Paul and Michael Perry)
((joyce.lee@tr.com;))
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