Memorandum of Understanding – NewMed Energy and Enlight Energy
This includes the development of solar and wind projects, as well as energy storage.
Middle Eastern energy partner NewMed Energy and Enlight Energy have entered into a Memorandum of Understanding (MOU), regarding exclusive collaboration for a fixed term on the initiation, development, financing, construction and operation of renewable energy projects in the Middle East and North Africa.
This includes the development of solar and wind projects, as well as energy storage. The target countries include Egypt, Jordan, Morocco, the UAE, Bahrain, Oman and Saudi Arabia.
NewMed will use business connections in those countries. The Enlight Corporation will provide the joint operations with professional design, development and management services in the interest of promoting the Joint Venture.
Source: ESI Africa