Italy based Enel Green Power (EGP) has signed a memorandum of understanding (MoU) with Japanese Marubeni to explore business opportunities Asia-Pacific renewable energy projects.
Under the terms of the two-year co-operation deal, both the firms will evaluate ‘potential business opportunities’ for geothermal, wind, solar and hydro projects.
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EGP CEO and general manager Francesco Venturini said: "The Asia-Pacific Region is a promising geography for Enel Green Power where we do not have an operational presence yet and through this agreement we are venturing into development opportunities across all renewable technologies in this area abundant with resources and growth potential."
The projects to be considered will chiefly be located in Philippines, Thailand, India, Indonesia, Vietnam, Malaysia and Australia. The firm might also decide on projects located in other areas, which will be identified later.
The firms will only consider those projects which are in the developmental phase.
Separate agreements will be signed for every joint venture project handled by EGP and Marubeni.
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By GlobalData
