KKR, a global investment firm, announced today the launch of Stellar Renewable Power, a new platform that will source, develop, and operate utility-scale solar plants and storage facilities on behalf of KKR’s Asset-Based Finance strategy.
Specifically, Stellar will source renewable investment 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.
Stellar will be led by Vijay Venkatachalam, who previously worked as Chief Financial Officer with SB Energy Global and as Director of Project Finance with SunEdison. In his career, Venkatachalam has led the development of nearly seven gigawatts of utility scale solar capacity in the United States and India.
“Demand for clean power is greater now than ever before and I’m confident that with KKR’s strong backing, Stellar has the right foundation, resources and expertise to create an industry leading renewable energy platform on a global scale,” Venkatachalam said.
According to the company announcement, Stellar plans to open offices in India and Dallas, Texas. The company has not yet shared any specific locations being targeted for development acquisition, sharing that the first order of business is to work with Venkatachalam and fill out the rest of the Stellar Solar team.
