SoftBank Group Corp. Signs Joint Memorandum of Understanding
with State Grid, KEPCO and ROSSETI
to Cooperate on Research and Planning for
Interconnected Power Grid Spanning Northeast Asia
March 30, 2016
SoftBank Group Corp.
SoftBank Group Corp. (SBG) today announced its signing of a joint Memorandum of Understanding (MOU) with China headquartered and world-leading power transmission company State Grid Corporation of China (“SGCC”), Korean public power leader Korea Electric Power Corporation (“KEPCO”), and one of the world's largest electric companies and operator of Russia's energy grid PJSC ROSSETI (“ROSSETI”) on a framework to cooperate on research and planning to promote an interconnected electric power grid spanning Northeast Asia.
Based on this MOU, the four companies will start feasibility studies on multinational power grid interconnection in the Northeast Asia region and jointly conduct business evaluation studies. The four companies will then request relevant governments to support and form business structures to realize the proposed plan.
SBG, SGCC, KEPCO and ROSSETI will cooperate to realize and promote global power grid interconnection in Northeast Asia.
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