to-the-point: SoftBank forms renewables alliance in Mongolia with KEPCO

Japan’s SoftBank Group Corp (TYO:9984) has signed a pact with Korea Electric Power Corp (KRX:015760), or KEPCO, and Mongolian investment company Newcom LLC to co-develop and co-invest in renewable energy projects in Mongolia.

This new memorandum of understanding (MoU) calls for the three companies to work together primarily on wind and solar photovoltaic (PV) projects in Ulaanbaatar city, SoftBank announced in a statement on Tuesday.

The Japanese multinational telecommunications and Internet company did not give any additional details about the new partnership.

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