Masdar, the Abu Dhabi Future Energy Company, has signed a memorandum of understanding (MOU) with the Korea Energy Agency (KEA) for renewable energy collaboration and investment between South Korea and the UAE.
Masdar and KEA aim to establish a strategic partnership to encourage renewable energy investment in Korea and to develop a number of renewable energy projects using solar, wind, energy storage, floating solar power and waste-to-energy technologies, among others.
“Masdar is proud to collaborate with industry leaders and like-minded companies that share the same values and goals as Masdar. Our partnership with the Korea Energy Agency will allow us to strengthen our relationship with Korea and accelerate the deployment of renewable energy and new energy industry projects to improve energy security and spur innovation in smart urban development,” said Mohamed Jameel Al Ramahi, Masdar’s chief executive.
Both parties may also expand the scope of the collaboration in the future to cover energy auditing, smart grids and other related areas.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The signing of the agreement follows the Korea-UAE bilateral Economic Cooperation Council meeting in March, where Masdar and KEA initiated the development of the partnership.
