Under the agreement, the company plans to incorporate a joint venture company together with NTPC and ADB to develop 500MW of renewable energy projects in India in the next three years.
ADB Private Sector Operations Department director Michael Barrow said that the new joint venture company will help India achieve its goal of reducing dependence on fossil fuels, cut greenhouse gas emissions and improve its energy security.
According to KEPCO, the joint venture agreement just signed has been drawn up on the basis of the approaches taken by each organization involved.
