World Energy GH2 has signed an investment agreement with SK Ecoplant, the environment and energy arm of SK Group, one of the world’s largest sustainable infrastructure companies. SK Group operates more than 200 companies across the energy, life sciences, advanced materials, mobility, and semiconductor industries. The agreement signifies the first overseas investment in a Canadian green hydrogen project. SK Ecoplant is initially investing $50 million in Project Nujio’qonik, acquiring a 20 per cent stake in the first phase of the project. This investment is SK Ecoplant’s first investment in a wind-to-green hydrogen project globally, and is a clear indicator that Newfoundland and Labrador is rapidly taking centre stage in the clean energy industry.
SK Ecoplant will continue to be an important partner in this project, thanks to its expertise in green hydrogen and engineering excellence. The company has already completed a green hydrogen value chain that includes renewable energy sources such as wind power and electrolysis. SK Ecoplant has established itself as a leading company in wind power generation, as evidenced by its ongoing development of a 2.6 GW offshore wind power project. Its subsidiary, SK Oceanplant, is a globally recognized top-tier company specialising in substructures for offshore wind power installations.