OREANDA-NEWS. March 5, 2009. Inter RAO UES (Russian exporter-importer of electricity) and Iberdrola (Spanish energy company) have signed a memorandum for cooperation in the field of electrical energy production, reports the press service of Inter RAO UES.

The document was signed by Chairman of the Board of Inter RAO UES Yevgeny Dod and Chairman of Iberdrola Ignacio Galan during a meeting that took place in Madrid in the framework of the visit of President of Russia Dmitry Medvedev to Spain.

The memorandum confirms the commitment of both parties to develop joint projects in the field of electrical energy production and envisages implementation of investment projects in Russia and other countries, particularly, the CIS, Europe and Latin America. In order to implement the provisions of the memorandum, to analyze possible directions of their cooperation and to create a list of promising cooperation projects, the parties are going to set up a working group.