New Delhi: Delhi electricity distribution company (discom) BSES on Monday announced it has entered into a significant cooperation agreement with state-run Business Finland for inducting state-of-the-art technology into the Indian distribution sector.
BSES has signed a memorandum of understanding (MoU) with the Finnish government for infusing cutting edge technology, conducting research and knowledge sharing, the discom said in a release.
The three-year MoU signed here by sister discom BSES Yamuna Power Ltd (BYPL) "will work on achieving common goals and explore collaboration opportunities for undertaking joint studies, pilot projects, knowledge sharing and consultancy/ research projects for inducting future and emerging technologies at the distribution utility level", it said.
"Some of the areas the collaboration will focus on include energy efficiency, renewables, Internet of Things (IOT), energy storage system, electric vehicles and smart grid initiatives.
"The implications of the fruits of this partnership will go beyond BSES. They will help the entire power sector," it added.
The MoU was signed by BYPL Chief Executive P.R. Kumar and Jukka Hollapa, the Commercial Councilor at the Embassy of Finland.
Commenting on the development, Kumar said in a statement: "BYPL is committed to provide reliable power supply to its consumers and increasing efficiencies by inducting latest technologies and forging global partnerships."
"This collaboration with BYPL, which is one of the most innovative and forward looking discoms, opens huge opportunities for Finnish companies in the Indian energy sector," said Hollapa.