SK Ecoplant, an energy and environmental solutions provider under SK Group, is to sell its waste and water treatment units to global private equity firm KKR.
According to industry sources on Tuesday, SK Ecoplant will be selling its 75 percent stake in its water treatment subsidiary, Renewus, and its fully owned waste management unit, Renewon, to KKR. The deal values the two subsidiaries at around 1.7 trillion won ($1.2 billion).
The divestment is likely aimed at improving SK Ecoplant’s finances ahead of a planned initial public offering next year.
In 2021, SK Ecoplant declared its transformation into an eco-friendly company, followed by a series of acquisitions in the recycling and waste management sectors.
The expansion, however, added financial strain on the company, making its total debt reach 7.2 trillion won as of the first quarter this year. Its debt-to-equity ratio stands at 240.8 percent.
With the sale of the two units, SK Ecoplant is expected to ease its financial burden and shore up its balance sheet ahead of the planned IPO. In 2024, SK Ecoplant sold a 25 percent stake in Renewus to Meritz Securities for 111.4 billion won, partially cashing out its investment.
Meanwhile, private equity giant KKR has been showing continued interest in Korea’s waste treatment sector. Last year, it sold Ecorbit, the nation’s largest landfill operator, for 2.07 trillion won. Ecorbit was originally managed as a joint venture between KKR and local construction company Taeyoung Group.
silverstar@heraldcorp.com
![[Exclusive] Ateez to return in November](https://wimg.heraldcorp.com/news/cms/2026/09/02/news-p.v1.20260902.76162fb0ba55493aad1c076f240d0750_R.jpg?type=h&h=120)