KKR launches renewables-dedicated platform for Asian markets

US private equity firm KKR & Co (NYSE:KKR), through its Asia Pacific Infrastructure Fund, has set up a renewable energy platform that will seek to invest in renewable energy projects in Asia, initially focusing on Taiwan and Vietnam.

Dubbed Aster Renewable Energy, the new company will develop, build and operate solar photovoltaic (PV), wind and energy storage schemes, KKR said on Wednesday. The platform already has its first project – a commercial solar PV development in Taiwan, details about which were not available.

Singapore-based Aster will be led by CEO Chen Wei, who has over 20 years of experience in the Asian renewable energy sector. Adam Huang will be in charge of operations in Taiwan.

As of end-2021, KKR had invested around USD 4 billion (EUR 4.75bn) in renewable energy projects globally, with a combined capacity of some 14.2 GW. The company expects the Asian renewable market will have a pivotal role in its infrastructure strategy and said it will seek to capture the “significant opportunities” it offers.

“There is significant demand and momentum for renewable energy across the region [..],” said Aster’s CEO.

(USD 1.0 = EUR 0.937)

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