SK E&S Successfully Raises 360 Billion KRW for Incheon Liquefied Hydrogen Project

Liquefied Hydrogen Subsidiary IGE
Signs PF Financing Agreement

[Asia Economy Reporter Choi Seoyoon] SK E&S's liquefied hydrogen business subsidiary IGE has successfully raised approximately 360 billion KRW in funding.

SK E&S announced on the 23rd that IGE recently signed a project financing (PF) agreement for the Incheon liquefied hydrogen plant project.

IGE is a subsidiary of SK E&S established in March last year to promote businesses such as liquefied hydrogen production and sales. It is currently pursuing the construction of a liquefied hydrogen plant in the Incheon area with an annual capacity of 30,000 tons.

This PF involved major lenders including state-run financial institutions such as the Korea Development Bank, the Export-Import Bank of Korea, and IBK Industrial Bank of Korea. The lenders successfully completed financial arrangements to support the hydrogen industry through joint cooperation.

In addition, the Korea Development Bank is expanding climate finance for carbon neutrality by providing loans for projects requiring venture and patient capital at the early stages of industry development, utilizing green financial products.

Meanwhile, this PF agreement signing is expected to further strengthen SK E&S's plans to create a hydrogen industry ecosystem. SK E&S plans to build the Incheon liquefied hydrogen plant capable of producing up to 30,000 tons annually and supply liquefied hydrogen nationwide through liquefied hydrogen charging stations starting from the second half of next year.

An SK E&S official said, "With this agreement, we have secured stable funding for investment costs," adding, "We will contribute to building the domestic hydrogen ecosystem by reliably producing and supplying liquefied hydrogen."

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