KKR launches Aster to develop renewable energy in Taiwan, Vietnam

KKR is a leading investment firm with USD471 billion in assets under management, as of December 31, 2021. The company currently oversees USD40 billion in infrastructure assets globally, with renewable energy a core focus of its infrastructure strategy. By the close of 2021, KKR had operational power generation capacity of 14.2 gigawatts (GW) following the investment of USD4 billion into renewable energy assets since 2011.

On April 27, KKR announced the launch of Aster Renewable Energy, a renewables platform that will develop, build and operate high-quality solar, wind and energy storage projects, with an immediate focus on Taiwan and Vietnam. Aster already operates a commercial solar photovoltaic project in Taiwan.  The goal of Aster is to become a leading renewable development and investment platform in Asia and indicated it has plans to expand to other Asian markets.

The launch of Aster follows a similar approach in India. In 2020, KKR established Virescent Infrastructure, with headquarters in Mumbai, India.  Virescent is a renewable energy platform that looks to acquire operating assets and leverage investment opportunities in the fast-growing renewable energy sector in India.

Chen Wei, an industry professional with more than 20 years of experience in building renewable energy businesses across Asia, will lead the new business as CEO. “There is significant demand and momentum for renewable energy across the region, and I look forward to maximising our team’s experience and networks, as well as KKR’s deep expertise, to help Aster capture these opportunities,” said Chen.

KKR has a team of more than 1,900 employees, consultants, and senior advisors, including more than 600 investment professionals working across 20 industries in offices around the world. The company is headquartered in New York City, New York, U.S.A.