The firms signed a two-year Memorandum of Understanding to cooperate in 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.
Under the MoU, EGP and Marubeni will also establish a joint working group to regularly exchange information and data on project opportunities.
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