The MoU provides for the arrangements including cooperative development of electricity producing projects on the Iberian Peninsula and the Canary islands; direct and external exploration costs to be shared on a 50/50 basis with special purpose vehicles (SPVs) to take forward projects; and formation of a technical committee, comprising representatives of both parties to oversee the exploration and development program.
The MoU provides exclusivity and access to Petratherm’s geological knowledge and geothermal concessions in Spain to Enel Green Power. The company will bring its integrated geothermal know-how into the joint development of the Petratherm’s projects.
Enel Green Power is engaged in the development and operation of plants generating energy from renewable sources.
