RDIF and JASE-W signed Memorandum of Cooperation for improvement of energy efficiency and utilization of renewable energy sources
Moscow, December 26, 2013 – Russian Direct Investment Fund (RDIF) and Japanese Business Alliance for Smart Energy Worldwide (JASE-W) signed Memorandum of Cooperation for improvement of energy efficiency and utilization of renewable energy sources. The Memorandum was signed in Moscow in the presence of the Minister of Energy of the Russian Federation, Alexander Novak, and the Minister of Economy, Trade and Industry of Japan, Toshimitsu Motegi.
The parties intend to jointly search for investment opportunities aimed at improvement of the Russian power generation companies' performance, as well as promote development of cogeneration, smart grids and waste-to-energy technology. New equipment installation and implementation of advanced technologies will drive significant reduction of fuel consumption and guarantee stable output and supply of electric power and heat for end users.
Also, RDIF and JASE-W intend to promote strengthening of business relations between Russian and Japanese companies of the financial and power generation sectors, including within the frames of the Russia-Japan investment platform. The parties will be especially focused on projects related to energy efficiency improvement and implementation of new capacities and technologies in power generation companies in the Far East of Russia.
Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity co-investments primarily in the Russian Federation alongside reputable foreign financial and strategic investors. Based in Moscow, RDIF’s management company is a 100% subsidiary of Vnesheconombank. Further information at rdif.ru.
Japanese Business Alliance for Smart Energy Worldwide (JASE-W) was organized by Japan Business Federation so-called KEIDANREN in October 2008 to promote Japanese energy-efficiency products and technologies to the world on a business basis with public-private cooperation, particularly with Ministry of Economy, Trade and Industry, and to contribute to solving environmental and energy issues. Further information at: www.jase-w.org.
Contacts for additional information:
Russian Direct Investment Fund
Director, Media Relations Department
М: +7 964 726 1773
Andrew Hayes/ Maria Ignatova/ Elena Kuza/ Charlie Barker
Tel +44 (0) 20 7796 4133