Italian Enel Green Power (EGP) has signed a co-operation deal with Japan’s Marubeni to evaluate potential power development opportunities from renewable sources in the Asia-Pacific Region.
According to the two-year memorandum of understanding (MoU), the firms will seek geothermal, wind, solar and hydro projects which are primarily being developed in Philippines, Thailand, India, Indonesia, Vietnam, Malaysia and Australia, and also for other regions to be identified in due course.
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."
Projects in the development phase will only be considered for investment.
Under the terms of the MoU, separate agreements will be formed by EGP and Marubeni for each relevant joint venture project.
The firms will also form a joint working group on account of the MoU to facilitate exchange of information and data about project opportunities.