New Delhi: Suzlon Energy and Korean firm GS E&C on Monday exchanged initial pact for a partnership in India's renewable energy business and the optimisation of related solutions.
The Memorandum of Understanding (MOU) was exchanged during the India-Korea Business Forum in the presence of Union Commerce Minister Piyush Goyal and his Korean counterpart, Yeo Han-koo.
A document showed that the partnership will focus on mutual cooperation in developing renewable energy projects in India and optimising related solutions (Total project size: approximately KRW 80 billion; specific investment amount to be determined; around 300 direct and indirect jobs expected).
The GS E&C is engaged in engineering and construction.
The Korean firm has also exchanged initial pact with Arie Energy LLP for business cooperation for India Wind Repowering.
Under the MoU, there will be cooperation on securing ageing wind farms and undertaking repowering projects.
It also stated that the total project size is approximately KRW 920 billion, while the investment amount is to be determined. Around 100 direct and indirect jobs are expected as a result of this.
Repowering means replacing existing turbines with high-efficiency models to enhance the performance of wind power plants.
Meanwhile, the South Korea-based AI fintech platform AFINIT and Yes Bank also signed an MoU.
Under the agreement, parties will gradually design a cooperation model to expand financial inclusion in India by leveraging AFINIT's alternative credit assessment technology and Yes Bank's financial infrastructure.
The Memorandum of Understanding (MOU) was exchanged during the India-Korea Business Forum in the presence of Union Commerce Minister Piyush Goyal and his Korean counterpart, Yeo Han-koo.
A document showed that the partnership will focus on mutual cooperation in developing renewable energy projects in India and optimising related solutions (Total project size: approximately KRW 80 billion; specific investment amount to be determined; around 300 direct and indirect jobs expected).
The GS E&C is engaged in engineering and construction.
The Korean firm has also exchanged initial pact with Arie Energy LLP for business cooperation for India Wind Repowering.
Under the MoU, there will be cooperation on securing ageing wind farms and undertaking repowering projects.
It also stated that the total project size is approximately KRW 920 billion, while the investment amount is to be determined. Around 100 direct and indirect jobs are expected as a result of this.
Repowering means replacing existing turbines with high-efficiency models to enhance the performance of wind power plants.
Meanwhile, the South Korea-based AI fintech platform AFINIT and Yes Bank also signed an MoU.
Under the agreement, parties will gradually design a cooperation model to expand financial inclusion in India by leveraging AFINIT's alternative credit assessment technology and Yes Bank's financial infrastructure.
