Indian state of Karnataka has struck a deal with a French-based company Tar Kovacs Systems to develop an ocean based renewable energy project.
The deal was reached during the Make In India Week event, held in Dubai last week.
The week-long event gathered more than 800,000 visitors, with the aim of creating avenues for showcasing, connecting, and collaborating for manufacturing in India, as well as to promote the investment enabling environment.
According to the Karnataka government, it has made a deal with French tidal and wave player Tar Kovacs Systems to construct an ocean based power plant, but no further details were revealed.
“We have reached an MoU with a French tidal wave energy major Tar Kovacs Systems which plans to invest €300 million in setting up of a renewable energy plant in the state,” Karnataka industry secretary Ratna Prabha said for The Economic Times.
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