The Ministry of Energy and Mines of Peru and Korean institutions inked three cooperation Agreements for Sustainable Energetic Development.
Those intend to propel and modernize the electricity and hydrocarbons sectors in Peru, the portfolio informed.
Minister of Energy and Mines, Rosa Ortiz, signed a Memorandum of Understanding (MoU) with the President of Korea Electric Power Corporation (Kepco), Cho Hwan-eik. The MoU seeks to promote the development of: Intelligent electricity networks, new electricity generation & transmission technologies and to modernize the sector, as well.
This agreement will be in force for 3 years, and may be extended if both parties agree to do so. It will enable to develop pilot projects and provide technical training on matters related to electricity.
The Ministry also inked an Agreement on Energy Efficiency with Korea Energy Management Corporation (Kemco). It intends to develop a joint project, which will be subject to audits by the Korean corporation.
The document also encourages the knowledge exchange on Peruvian and South Korean energy efficiency projects.
The document was signed by Minister Rosa Ortiz and the President of Kemco, Jong-Rip Byun. It will be in force for 3 years and can also be extended.
Finally, Peru's Minister of Energy and Mines, Rosa Ortiz and the President of Export-Import Bank of Korea (Korea Eximbank), Lee Duk-hoon, subscribed the memorandum of understanding on trade cooperation. Thus, both parties agreed to exchange opinions and information regarding the development of Peruvian petrochemical and natural gas industries for 2 years.
Also attending the ceremony were Deputy Minister of Energy, Raul Perez-Reyes.
(END) RGP/RGP/RGR/MVB
Published: 4/21/2015