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Italian renewables developer Enel Green Power forms joint venture with Japanese Marubeni

Enel Green Power (EGP) is to join forces with Marubeni to evaluate potential business opportunities in the Asia-Pacific region, EGP has announced. 08 Apr 2015

The two companies have signed a memorandum of understanding agreeing to look at geothermal, solar and hydro projects in the Philippines, Thailand, India, Indonesia, Vietnam, Malaysia and Australia, EGP said.

Only projects in the development phase will be considered. Projects that are under construction will not be within the scope of the cooperation between EGP and Marubeni, according to the announcement.

EGP and Marubeni will establish a joint venture for each development agreement that they put in place, with EGP taking a controlling stake in each.

A joint working party will keep information flow open between the companies, EGP said.

EGP is a subsidiary of Italian government-controlled energy company Enel Group. It develops and manages energy generation from renewable sources in Europe, the Americas and Africa.

EGP currently has 740 plants operating in 15 countries with an installed capacity of 9600 MW from a mix of sources including wind, solar, hydroelectric, geothermal and biomass.

Marubeni was the first Asian investor in UK wind power. It purchased almost half of the 172MW Gunfleet Sands wind farm, off the coast of Essex, from Danish operator DONG Energy in 2011. 

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