Oyo signs mou with finnish consortium to establish energy innovation centre
Here's a summary of the article:
Title: Oyo Signs MoU with Finnish Consortium to Establish Energy Innovation Centre
Summary: Oyo, a leading hospitality company, has signed a Memorandum of Understanding (MoU) with a Finnish consortium to establish an Energy Innovation Centre in India. The centre will focus on developing sustainable energy solutions and promoting energy efficiency in the hospitality industry.
Key Points:
- The MoU was signed between Oyo and a consortium of Finnish companies, including Fortum, a leading energy company, and VTT Technical Research Centre of Finland.
- The Energy Innovation Centre will be established in India and will focus on developing sustainable energy solutions, including renewable energy, energy storage, and energy efficiency.
- The centre will also promote energy efficiency in the hospitality industry by providing training and consulting services to hotels and other businesses.
- The partnership aims to reduce carbon emissions and promote sustainable development in the hospitality industry.
- The MoU was signed during the India-Finland Business Summit, which was held in Helsinki, Finland.
Quote: "We are excited to partner with the Finnish consortium to establish the Energy Innovation Centre in India. This partnership will enable us to leverage each other's expertise and resources to develop sustainable energy solutions that benefit the hospitality industry and the environment," said Ritesh Agarwal, Founder and CEO of Oyo.
Background: Oyo is a leading hospitality company that operates over 1 million rooms across 800 cities in 80 countries. The company has been focusing on sustainability and has set a goal to reduce its carbon footprint by 50% by 2025. The partnership with the Finnish consortium is part of Oyo's efforts to promote sustainable development and reduce its environmental impact.