International Finance

Masdar, South Korea tie-up to strengthen presence in energy sector

energy, South Korea, renewable energy, Masdar, solar, wind, energy storage, floating solar power, waste-to-energy technologies, urban development, Korea Energy Agency
A Memorandum of Agreement was signed between both parties to exchange expertise and knowledge across industry fields including energy auditing, smart grids and energy storage

Masdar and Korea Energy Agency are said to explore opportunities in the energy sector by deepening market investments.

Under the terms of agreement, Masdar and KEA come with a focus to develop potential strategic partnership for two reasons: to drive renewable energy investment in Korea and build renewable projects  using solar, wind, energy storage, floating solar power and waste-to-energy technologies, reported Gulf News.

Mohammad Jameel Al Ramahi, Masdar’s chief executive officer, said in a statement, “Our partnership with the KEA 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.”

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