KKR to finance renewable power

KKR launched Stellar Renewable Power, a platform that will source, develop and operate utility-scale solar plants and storage facilities on behalf of the $349 billion firm’s Asset-Based Finance (ABF) strategy.

Stellar will source opportunities through greenfield development and acquisitions of early-stage assets from other developers. Funding for the platform’s activities will come from separate insurance accounts managed by KKR the amount of which the firm has not disclosed.

KKR has deployed more than $5 billion in 49 ABF investments globally since 2016. KKR’s portfolio includes several proprietary loan origination . . .

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