SoftBank Group Corp. Signs Joint Memorandum of Understanding with KEPCO and Newcom LLC to Cooperate on Development of Renewable Energy Projects in Mongolia
SoftBank Group Corp. (“SBG”) today announced its signing of a joint Memorandum of Understanding (MOU) with Korean public power leader Korea Electric Power Corporation (“KEPCO”) and Mongolian investment company Newcom LLC (“Newcom”) on a framework to cooperate on development and investment for renewable energy projects in Mongolia in Ulaanbaatar city.
Based on this MOU, SBG will work together with KEPCO and Newcom in the renewable energy business consisting primarily of wind and solar photovoltaic generation projects, and thereby accelerate its efforts to promote renewable energy in Asia.
(From left) Shigeki Miwa (General Manager, CEO Project Office/Strategy Planning Office of SoftBank Group Corp.), Cho Hwan-Eik (President & CEO of Korea Electric Power Corporation) and Enkhbold Nyamjav (CEO of Newcom LLC)
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