To Finance Equity Investment in Plug Power
SK E&S has recently borrowed a green loan of US$300 million to expand its investment in new eco-friendly energy projects.
SK E&S announced on March 4 that it has signed a US$300 million green loan contract with the Overseas M&A Investment Support Council consisting of Korea Development Bank (KDB), the Export-Import Bank of Korea and NH Nonghyup Bank. The funds raised through the green loan will be used to expand its hydrogen business.
Earlier in January, SK E&S and SK Holdings invested a total of US$1.6 billion to acquire a 10 percent stake in Plug Power, which leads the global hydrogen business.
SK E&S will use part of the green loan to finance its acquisition of the stake in Plug Power.
Yoon Young-sil
contact@businesskorea.co.kr