SK Innovation said on Wednesday that it has secured US$500 million through a green loan.
The money will be spent to build its second battery factory in Hungary.
The new factory is expected to have an annual production capacity of 9GWh.
The first factory in Hungary, which was completed late last year, had a capacity of 7.5GWh.
A third factory at the country with a capacity of 10GWh is also planned.
SK Innovation’s current total capacity is around 50GWh.
The South Korean energy firm had also used a green loan back in 2019 for 800 billion won, which it used to build battery and separator production facilities.
SK Innovation said it has procured 3.2 trillion won through green loans in total up to now.