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Russian Direct Investment Group will cooperate in identifying and targeting investment opportunities in the energy sector across Russia in order to develop mutually beneficial transactions.
Two private power companies Tata Power and Gamesa Wind Turbine on Thursday signed agreements with Russia for greater cooperation in the electricity sector.
The agreements were signed during the visit of Russian President Vladimir Putin in New Delhi.
Tata Power signed a memorandum of understanding with Russian Direct Investment Group while Gamesa Wind Turbine inked pact with ROTEK of Russia.
The pact between Gamesa Wind Turbine and ROTEK will facilitate cooperation in wind power equipment, an official statement said.
Russian Direct Investment Group will cooperate in identifying and targeting investment opportunities in the energy sector across Russia in order to develop mutually beneficial transactions.
"The signing of memorandum of understanding is a significant milestone for Tata Power and we endeavour to be a significant player in the international energy market," Anil Sardana, the chief executive officer and managing director Tata Power, said.
"RDIF has identified energy sector as one of its key priorities for increasing Russia's economic efficiency and sustainability," RDIF CEO Kirill Dmitriev said.