SK Innovation issues $1bn green bond for US plant
SK Innovation Co., a South Korean refinery-to-battery company, plans to issue a green bond worth 1.09 trillion won ($1 billion) to expand its electric vehicle (EV) battery manufacturing capacity in the US, officials said on Wednesday
image for illustrative purpose
Seoul: SK Innovation Co., a South Korean refinery-to-battery company, plans to issue a green bond worth 1.09 trillion won ($1 billion) to expand its electric vehicle (EV) battery manufacturing capacity in the US, officials said on Wednesday.
SK battery America Inc., the Korean firm's U.S. subsidiary, will issue the green bond, a type of financing for eco-friendly projects, later this month to build its second EV battery plant in Georgia, a company spokesperson said. The new fund will be an extension of $670 million of green financing injected in SK battery America last year, reports Yonhap news agency.
In March 2019, SK Innovation broke ground on its first EV battery production line in Georgia with a $1.67 billion investment.
