KB Kookmin Bank Signs Business Agreement to Promote Overseas Green Energy Investment

Shinhan Bank, Korea Midland Power, Korea Hydro & Nuclear Power, and Sprat Korea Sign Business Agreement

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced on the 30th that it has signed a business agreement with Shinhan Bank, Korea Midland Power, Korea Hydro & Nuclear Power, and Sprat Korea to promote overseas green energy investment.

Through this agreement, they plan to jointly promote the development of overseas renewable and eco-friendly energy projects and the establishment of investment funds to enter the overseas green energy market. KB Kookmin Bank and Shinhan Bank will invest in a fund (tentatively named the Global Green Energy Partnership Fund) that invests in renewable energy development projects in Europe and provide financial solutions such as loans for investment projects to support stable project development.

Korea Midland Power and Korea Hydro & Nuclear Power will be responsible for the overall construction and management operation of power plants by utilizing their abundant experience and know-how in power plant operation, while Sprat Korea will manage and operate the fund. The entry of domestic companies into the European renewable energy market, which began with Korea Midland Power's Stavro wind power plant project in Sweden in 2019, is expected to accelerate further through this business agreement.

A KB Kookmin Bank official said, "Through this business agreement, we will strengthen our position as a leader in ESG (Environmental, Social, and Governance) finance and contribute to climate finance and carbon neutrality efforts."

This content was produced with the assistance of AI translation services.