Korea’s SK Ecoplant has signed a MoU with world-class builder China State Construction Engineering Corporation (CSCEC) in a bid to augment their joint efforts and will target Egypt and China to implement their first business projects.
Egypt is regarded as a promising producer of green hydrogen with its abundant sunlight, optimal weather conditions and territorial size, while China’s vast solar power market has great potential.
Under the partnership, the construction unit under SK Group and CSCEC said they will be working together to target unexplored renewable energy markets overseas, SK Ecoplant’s statement showed on Thursday.
According to Amwal Al Ghad, SK Ecoplant will attract project financing loans and provide green hydrogen and renewable energy technology to CSCEC, while the Chinese builder will facilitate business attraction by offering its network in some 77 countries.
“We will accelerate our efforts to advance into the global renewable energy market through strategic cooperation with CSCEC, the world’s number one builder,” said SK Ecoplant CEO Park Kyoung-il.