Enel Green Power (EGP) and Japan-based Marubeni Corporation have signed a two year Memorandum of Understanding (MoU) to cooperate in evaluating potential business opportunities in renewable projects mainly in the Asia-Pacific Region.
Cooperation under the MoU will address geothermal, wind, solar and hydro projects mainly located in the Philippines, Thailand, India, Indonesia, Vietnam, Malaysia and Australia as well as other areas that may be identified at a later stage. Only projects in the development phase will be considered, therefore projects under construction and operating assets will be excluded from the scope of the cooperation. The MoU is expected to be implemented by means of development agreements aimed at setting the structure of the projects. Under each agreement, EGP and Marubeni will have to establish a joint venture to build, own and operate the relevant projects. The structure of every joint venture will secure a controlling stake on each project to EGP.