SK E&S Secures Additional 735 Billion KRW Funding from KKR

[Asia Economy Reporter Park So-yeon] SK E&S has secured 735 billion KRW by issuing 12.5 million redeemable convertible preferred shares (RCPS) through the global investment firm Kohlberg Kravis Roberts (KKR).

According to the investment banking (IB) industry on the 22nd, SK E&S signed an RCPS acquisition contract worth 735 billion KRW with KKR. SK E&S plans to use the funds raised through this RCPS issuance to expand investments in future growth businesses such as hydrogen and renewable energy, while also working to improve its financial structure.

This contract marks KKR's second investment following its initial investment in the newly issued RCPS by SK E&S in November last year.

Kim Yang-han, Vice President of KKR’s Infrastructure Team, said, "We are pleased to expand cooperation with SK E&S and support the diversification of SK E&S’s renewable energy solutions business both domestically and internationally." He added, "This investment aligns with KKR’s broad strategy of providing customized solutions that support the enterprise-wide goals of domestic companies."

SK E&S, a subsidiary of SK Inc., was established in 1999 and operates a wide range of energy-related businesses, including overseas gas field development, power generation, regional energy, and city gas distribution. SK E&S aims to grow centered on hydrogen, renewable energy, and energy solutions to become a leading global eco-friendly energy solutions company.

This investment was executed under KKR’s Asia Pacific Infrastructure strategy. It supports infrastructure assets and companies with growth potential in advanced and developing Asian markets, including Korea, India, the Philippines, Japan, Australia, New Zealand, and China. Since 2011, KKR has invested over USD 15 billion globally as of December 31, 2021, in renewable assets such as solar and wind power with an operational generation capacity of 23GW.

This content was produced with the assistance of AI translation services.