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S. Korea, IDB Sign MOU On Energy Projects In Latin America

Paik Un-gyu (L), South Korean minister of trade, industry and energy, shakes hands with Alberto Moreno, the president of the Inter-American Development Bank after signing a memorandum of understanding on energy cooperation in their meeting in Washington, D.C. on April 19, 2018, in this photo provided by the ministry. (Yonhap

South Korea and the Inter-American Development Bank (IDB) signed a memorandum of understanding to work together to build a smarter energy infrastructure in Latin America, Seoul’s commerce ministry said Friday.

 

Paik Un-gyu, South Korean minister of trade, industry and energy, reached the deal with Alberto Moreno, the president of IDB, in their meeting in Washington, D.C. on Thursday (local time).

 

Under the agreement, the two sides will cooperate in building the energy storage system connected with solar and wind power in the energy-strapped islands or isolated areas in Latin America and the Caribbean.

 

They will also seek ways to adopt the energy-efficient technologies in public buildings in Barbados, an eastern Caribbean island.

 

The ministry said the MOU is expected to provide greater export opportunities to Korean companies in the advanced energy sector.

 

The Washington-based bank is the largest source of development financing for Latin America and the Caribbean.

 

Source: http://english.yonhapnews.co.kr/news/2018/04/20/0200000000AEN20180420002400320.html



Category/ies:Barbados News, Clean Energy, Energy Efficiency, Energy for Young Minds, News, Regional, Renewable Energy.
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