SK to Invest in $4.5 Billion Canadian Green Hydrogen Project
- Korean firm to take 20% stake and will help develop plant
- Deal signed during PM Trudeau’s visit to South Korea
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South Korean company SK Ecoplant Co. will invest in and help develop a $4.5 billion green hydrogen project in Canada that’s set to be one the largest such plants in the world.
The renewable energy unit of SK Inc. will buy a 20% stake in the facility in the eastern province of Newfoundland and Labrador for $50 million, it said in a statement. The project will produce green hydrogen and then covert it to ammonia to be exported to Europe from 2026, it said.