Electricite de France SA (EDF.FR) said Tuesday that Abu Dhabi Future Energy Company, or Masdar, has signed a memorandum of understanding to discuss collaborating with EDF in the power-generation sectors of countries in sub-Saharan Africa.
Masdar provides energy access to communities away from the electricity grid, EDF said, adding that the partnership will explore development opportunities in sub-Saharan Africa.
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Cooperation between EDF and Masdar started in 2017, the French company said. The agreement was supplemented by a memorandum of understanding in November.
Through this agreement, both companies intend to expand their portfolio in the continent while promoting local socioeconomic development, as access to electricity is limited in sub-Saharan Africa, EDF said.
"[The] cooperation with Masdar will enhance the development of essential energy projects for sub-Saharan Africa, combining electrification and low-carbon growth," said Valerie Levkov, senior vice president of Africa and Middle East at EDF.
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(END) Dow Jones Newswires
January 16, 2018 12:59 ET (17:59 GMT)