Signed a green loan contract with the industrial industry·import·import·NH Nonghyup council
Leap as a major eco-friendly energy company focused on hydrogen and renewable energy
[지앤이타임즈 송승온 기자] SK E&S, which is expanding its business area focusing on future eco-friendly energy such as hydrogen and renewable energy, has recently successfully procured green loans (green finance) and is spurring investments in new growth businesses.
SK E&S announced on the 4th that it would raise $300 million in financing through the signing of a green loan contract with the’Overseas M&A and Investment Joint Support Council’ consisting of Korea Development Bank, Export-Import Bank, and NH Nonghyup Bank.
The funds secured through Green Loan will be used to expand the hydrogen business, including equity investment in Plug Power in the US.
Green Loan refers to loans with limited investment purposes in eco-friendly business fields such as renewable energy, energy efficiency, and hydrogen-related infrastructure.
As such, it is difficult to pass the certification process of financial institutions and detailed fund management is essential, but it is attracting attention as a financing trend of global energy companies and financial institutions in that it can contribute to solving environmental problems in the long term.
Earlier in January, SK E&S and SK Co., Ltd. invested a total of 1.85 trillion won ($1.6 billion) in US Plug Power, which leads the global hydrogen business, and became the largest shareholders (10% stake). Through this Green Loan Agreement, SK E&S is able to securely raise funds for plug power investment by providing timely funding of about $300 million (about 330 billion won).
An official from the Korea Development Bank said, “The council for joint support for overseas M&A and investment is selectively supporting green finance only to eco-friendly industries that are considered nationally important. We plan to actively respond to the’development strategy’.”
An official from SK E&S said, “The successful procurement of green loans from major national banks is the result of official recognition of the future growth potential and eco-friendliness of SK E&S core businesses. We will leap forward as a leading global major eco-friendly energy company.”
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