RTE and Hydro-Québec step up their strategic cooperation
Today, RTE and Hydro-Québec signed a protocol agreement on the acquisition of power transmission systems, on the sale of innovative tools and services, and on the sharing of know-how. Longstanding partners, the French and Quebec-based operators of the two biggest transmissions systems in Europe and North America have decided to step up their cooperation.
Signed on the 28th of November 2016 by François Brottes, Chairman of the RTE Executive Board and Éric Martel, CEO of Hydro-Québec, the agreement encompasses collaborative research efforts to identify opportunities for the joint acquisition of strategic assets. It also includes the identification of opportunities for creating joint structures for the sale of innovative solutions developed by the R&D departments of the two TSOs. Last but not least, the agreement also encompasses the sharing of know-how, particularly in the area of industrial safety.
François Brottes, Chairman of the RTE Executive Board, made the following statement: “In the constantly evolving world of electrical power, this agreement will see both public companies sharing more and more of their respective expertise. This cooperation will help to leverage their know-how and improve the quality of service provided to customers”.
Éric Martel, CEO of Hydro-Québec: “For Hydro-Québec, RTE is an ideal partner as well as a platform for developing future acquisition strategies in Europe. Its knowledge of the European market will be a valuable asset. Our companies share the same DNA and are therefore natural allies.