Cooperation in Solar, Wind, Fuel Cell, and Biomass Projects to Lead Green New Deal Policies
Joint Agreement for Proactive Response to Hydrogen Power Obligation System (HPS)
Promotion of New Business Models for Continuous Collaboration in Environmental, Social, and Governance (ESG) Fields
On the 21st, after the signing ceremony of the "Memorandum of Understanding for Joint Development of Renewable Energy Linked to the Green New Deal" at the E1 headquarters (LS Yongsan Tower) located in Yongsan-gu, Seoul, Lee Jung-woo, Head of PF Division at Shinhan Bank (middle right), and Kim Sang-hoon, Head of New Business Development at E1 (left), posed for a commemorative photo.
[Asia Economy Reporter Jo Gang-wook] Shinhan Bank announced on the 22nd that it has signed a 'Memorandum of Understanding for Joint Development of Renewable Energy Projects Linked to the Green New Deal' with E1.
According to the agreement held yesterday at E1’s headquarters located in Yongsan-gu, Seoul, Shinhan Bank will strengthen its strategic partnership with E1, which has recently expanded its business areas to renewable energy and the hydrogen economy. The bank will effectively carry out financial advisory, brokerage, and refinancing tasks for various projects promoted by E1 and its affiliates, actively cooperating in fostering industries related to the Green New Deal, a future growth industry.
Additionally, by prioritizing proposals for participation in Green New Deal-related projects advised and brokered by Shinhan Bank to E1, the two parties will actively create a business model where strategic investors and financial institutions can coexist and prosper.
Shinhan Bank holds various pioneering titles in the renewable energy sector, a key area of the Green New Deal. It was the first in Korea to arrange rooftop solar project financing (PF), and has since led the market by pioneering related business areas such as floating solar power projects, hydrogen fuel cell power generation linked with steam, and energy storage systems (ESS) connected to renewable energy.
A Shinhan Bank official stated, "Shinhan Bank was the first commercial bank to join the Equator Principles to fulfill environmental and social responsibility (ESG), and declared its eco-friendly strategy 'Eco Transformation 2020.' Shinhan Bank will proactively respond to the government’s Green New Deal policy and lead innovation in green energy."
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