Power distribution company BYPL has signed a memorandum of understanding (MoU) with Business Finland, a Finnish government agency, for collaborative activities in different areas, including energy efficiency and electric vehicles.
The agreement was signed last week by BSES Yamuna Power Limited (BYPL) chief executive officer PR Kumar and Jukka Holappa, commercial councilor and head Business Finland' India, at the Embassy of Finland here, said a BYPL spokesperson.
The three year MoU on cooperation in the power distribution sector' will encompass joint studies, pilot projects, knowledge-sharing and consultancy, research projects for inducting future and emerging technologies at the distribution utility level.
Some of the focus areas the collaboration will include are energy efficiency, renewables, energy storage system, electric vehicle and smart grid initiatives, the spokesperson said.
We are excited about the collaboration which will help both the organisations in getting strategic and tactical insights in their continued quest for providing better services benchmarked to global best practices, Kumar said.
It is wonderful to see India working towards ambitious energy targets, Holappa said.
"Finland and especially Finnish energy companies want to be part of this revolution," he said.
The collaboration with the BYPL opens "huge opportunities" for the Finnish companies in the Indian energy sector, he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)