International private equity fund KKR announced today the establishment of Aster Renewable, a renewable energy platform engaged in the development, construction, and operation of solar photovoltaic, wind power, and energy storage systems. The investment business started in Taiwan and Vietnam and will expand to other Asian markets in the future. Aster announced that the capital injection into Aster Taiwan was officially established and Adam Huang was appointed as the general manager of Taiwan.
Headquartered in Singapore, Aster hopes to invest in high-quality renewable energy assets through a team with leading industry development expertise. Chen Wei, who has been deeply involved in the industry for more than 20 years, will serve as CEO. In the future, he will lead the team to explore, plan and implement investment opportunities and, in Taiwan, Aam Huang is the general manager. The first solar photovoltaic project developed by the team for Aster has been put into operation.
Michael de Guzman, Managing Director of KKR's Asia-Pacific Infrastructure Team, said that Aster reflects KKR's confidence in Asia's renewable energy industry and its important role in Asia's infrastructure strategy. KKR expects to drive energy transition through investments in Aster and India's Virescent Infrastructure.
Chen Wei state that there is a huge demand and development momentum for renewable energy in Asia, so he expects to maximize his experience and contacts, coupled with KKR's existing professional strength, to help Aster seize these opportunities. Aster will also be looking for great opportunities and great talent to invest in and help strengthen KKR's infrastructure strategy.
KKR's investment comes from the Asia-Pacific Infrastructure Fund. Since 2008, KKR has established a global infrastructure strategy and has become one of the most active investors in the field of infrastructure. Currently, KKR has 75 full-time investment experts around the world and manages a foundation of about 40 billion US dollars of infrastructure assets and has about 65 investments in various infrastructure sectors around the world.