Investor KKR targets utility-scale solar, energy storage acquisitions after new platform launch

• Investment company KKR has actually introduced a new utility-scale solar and also energy storage space advancement platform, dubbed Stellar Renewable Power.

Stellar is to establish greenfield projects and get early-stage properties from other programmers, planning to capitalise on what the investor described as "considerable development chances" in the space.

KKR has actually assigned previous SB Energy and SunEdison exec Vijay Venkatachalam to lead the platform and also entrusted him with constructing a group at Stellar over the coming months.

"As lasting investors in renewable energy, we see incredible potential to build a leading, distinguished solar development platform," Anup Agarwal, chief investment policeman of KKR subsidiary Global Atlantic, said.

Project growth and also procurement is to be funded from different insurance accounts managed by KKR, the firm said.

The launch of Stellar builds on KKR's existing interests in the solar as well as energy storage space sectors. In March 2019 the investor partnered with United States renewables stalwart NextEra Energy Partners on a portfolio of projects as well as additional partnered with services company Crossover Energy Partners earlier this year to develop and also run renewables projects internationally.