By Mauro Orru
Enel SpA said Wednesday that Enel Green Power has signed an agreement with the Norwegian Investment Fund for developing countries through its subsidiary Enel Green Power India for renewable projects in India.
The Rome-based energy company didn't disclose financial details, but said the agreement encompasses the development, financing and operation of renewable projects in India.
Enel Green Power India will develop projects, while Norfund will have the right to invest and become equity partner along with Enel Green Power India.
"By joining forces with an important partner such as Norfund, which shares our commitment towards sustainability and decarbonization, we will leverage on our technical expertise to harness the significant renewable growth potential of India, while contributing to the achievement of the country's sustainable energy targets," said Antonio Cammisecra, chief executive of Enel Green Power.
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