Carbon neutrality

SK Innovation E&S, JB Financial team up for renewable energy loans

The loans are expected to fuel a private sector-led renewable energy ecosystem

By Apr 15, 2025 (Gmt+09:00)

1 Min read

yhkim@hankyung.com

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JB　Financial　Group,　SK　Innovation　E&S　and　InnerGen　sign　an　MOU　to　develop　loan　products　for　both　producers　and　consumers　of　renewable　energy　(Courtesy　of　SK　Innovation　E&S)

JB Financial Group Co., the parent company of Jeonbuk Bank and Gwangju Bank, will join hands with SK Innovation E&S Co. and InnerGen Co. to roll out South Korea’s first secured loan products tailored for companies transitioning to renewable energy.

To launch the loan products, the three companies signed a memorandum of understanding on Monday, said SK Innovation E&S Co. InnerGen is a consulting company focusing on climate change.

The trio will collaborate to offer loans to solar power producers and companies engaged in renewable energy power purchase agreements (PPAs).

They will also provide marketing and consulting services to promote the RE100 initiative – a global campaign encouraging businesses to source 100% of their electricity from renewables.

"The agreement will spur greater participation by solar power developers in the private renewable energy PPA market," said Lee Jin-mo, head of the renewable energy business at SK Innovation E&S.

Write to Yeonhee Kim at yhkim@hankyung.com