NH Nonghyup Bank Joins National Growth Fund's First "Shinan Ui Offshore Wind Power Project"

A total of 207 billion won in financial support through senior loans and the Future Energy Fund
Reverse factoring and technology finance exceptions offered to local SME partners

NH Nonghyup Bank announced on April 13 that it will participate in the financial agreement for the "Shinan Ui Offshore Wind Power Project," the first initiative of the National Growth Fund.

The "Shinan Ui Offshore Wind Power Project" aims to establish a large-scale power generation complex in the waters near Uido, Shinan County, Jeollanam-do. The project is expected to contribute to the national energy transition policy by producing large-scale renewable energy. With a total project cost of approximately 3.4 trillion won, it is the largest renewable energy project financing in South Korea.

Nonghyup Bank will provide a total of 207 billion won in funding for this project, including a senior loan of 120 billion won and an indirect investment of 87 billion won through the Future Energy Fund.

Nonghyup Bank has set "support for local small and medium-sized partner companies" as a key differentiator for this project. By leveraging its strong branch network in Jeollanam-do, the bank plans to provide customized financial support to partner companies.

Additionally, to support local equipment suppliers who may face liquidity issues during the large-scale project financing process, the bank intends to introduce a "reverse factoring" system, allowing them to convert their accounts receivable into cash at an early stage. Furthermore, companies with excellent wind power technology will benefit from a "technology finance exception," with enhanced support through low-interest loans and guarantees.

An official from Nonghyup Bank stated, "Participation in the Shinan Ui Offshore Wind Power Project is an exemplary case of regionally-focused, productive finance that NH Nonghyup Bank pursues," adding, "Going forward, we will continue to expand productive finance that fosters the growth of both the eco-friendly energy industry and local small and medium-sized enterprises."

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