KKR Eyes Asian Energy Market with Launch of Renewables Platform Aster

KKR, a leading global investment firm, announced the launch of its new Aster Renewable Energy platform to develop, build, and operate solar, wind, and energy storage projects in Taiwan and Vietnam, with expansion plans in other Asian markets.

Based in Singapore, Aster plans to invest in high-quality renewable energy assets by leveraging the team’s leading development expertise. CEO Chen Wei will be leading Aster, having amassed more than 20 years of experience managing and building renewable energy businesses across Asia. 

Aster’s launch builds on the strong support for renewables investment and development in Asia and KKR’s substantial experience in the industry.

Since 2011, KKR has invested approximately US$4 billion globally into renewable assets, such as solar and wind, which have an operational power generation capacity of 14.2 GW, as of December 31, 2021.

In Asia, KKR sees renewables as core to its infrastructure strategy and seeks to capture significant opportunities across the region. In 2020, KKR set up Virescent Infrastructure, a renewable energy platform to own and operate renewable assets in India.

Michael de Guzman, Managing Director, KKR’s Asia Pacific Infrastructure team, said, “The launch of Aster reflects KKR’s confidence in Asia’s renewables sector and the important role it plays in our broader Asia infrastructure strategy. We believe we have reached an inflection point where there is a strong convergence of favorable geographical characteristics and resources, supportive government policies, and demand for sustainable energy solutions to meet the region’s growing needs. With our global expertise and local knowledge, KKR is well-placed to invest behind and advance the energy transition through Aster across Taiwan, Vietnam, and Asia, and Virescent Infrastructure in India.”

The company established its Global Infrastructure strategy in 2008 and has since been one of the most active infrastructure investors globally, with a team of about 75 dedicated investment professionals.