Simpson Thacher is representing KKR on the launch by KKR and SK of South Korea’s largest renewable energy platform, valued at 2 trillion won ($1.3 billion).
By bringing together renewable businesses and assets from SK Innovation, SK ecoplant and SK eternix, the platform integrates the entire value chain, from development and construction through to operation and maintenance, enhancing economies of scale and operational efficiency. The platform will manage a portfolio covering all areas of renewable energy generation - except hydrogen - including solar, offshore and onshore wind, and fuel cells. The platform has approximately 1.7GW of capacity currently in operation and a development pipeline that will bring the total capacity to 10GW, which is capable of simultaneously and continuously powering 100 large-scale, 100MW-class data centers. KKR will have management control of the platform in its initial phase, with SK participating as an equity investor and retaining the flexibility to pursue control rights through future discussions.
The Simpson Thacher team includes Ian Ho, Paul Kim and Min Park (M&A); Brian Chisling (Energy and Infrastructure); Peter Bang, Makiko Harunari, Sally Choi and Hyunmin Youm (Credit); Drew Purcell and Max Toubiana (Tax); Etienne Renaudeau, Pauline Patat, Dani Rabinowitz and Dimitrios Nikolaidis (Antitrust).