RTE and Hydro-Québec Strengthen Strategic Cooperation

Today, long-time partners RTE and Hydro-Québec signed a memorandum of understanding concerning the acquisition of power transmission systems, the commercialization of innovative tools and services, and the sharing of skills. Through the agreement, the French and Québec operators of the largest electricity transmission systems in Europe and North America have chosen to strengthen their cooperation.

The agreement, signed November 28, 2016, by François Brottes, Chairman of the RTE Management Board, and Éric Martel, President and Chief Executive Officer of Hydro-Québec, covers common studies to be conducted to identify opportunities to purchase strategic assets, either jointly or separately. It also covers identifying opportunities to create common structures for commercializing innovative solutions developed by the R&D departments of the two utilities. Last, the agreement covers the pooling of know-how, specifically with respect to occupational safety.

Mr. Brottes notes that “With the power industry in a state of flux, this agreement commits our two utilities to increasingly pooling our respective expertise. This cooperation will help enhance our know-how and improve the quality of our service to customers.”

According to Mr. Martel, “RTE is a great partner for Hydro-Québec and the agreement provides a platform for the development of future acquisitions in Europe. RTE’s familiarity with the European market will be a valuable asset. Our companies share the same DNA and for that very reason are natural allies.”

Today, long-time partners RTE and Hydro-Québec signed a memorandum of understanding concerning the acquisition of power transmission systems, the commercialization of innovative tools and services, and the sharing of skills. Through the agreement, the French and Québec operators of the largest electricity transmission systems in Europe and North America have chosen to strengthen their cooperation.

The agreement, signed November 28, 2016, by François Brottes, Chairman of the RTE Management Board, and Éric Martel, President and Chief Executive Officer of Hydro-Québec, covers common studies to be conducted to identify opportunities to purchase strategic assets, either jointly or separately. It also covers identifying opportunities to create common structures for commercializing innovative solutions developed by the R&D departments of the two utilities. Last, the agreement covers the pooling of know-how, specifically with respect to occupational safety.

Mr. Brottes notes that “With the power industry in a state of flux, this agreement commits our two utilities to increasingly pooling our respective expertise. This cooperation will help enhance our know-how and improve the quality of our service to customers.”

According to Mr. Martel, “RTE is a great partner for Hydro-Québec and the agreement provides a platform for the development of future acquisitions in Europe. RTE’s familiarity with the European market will be a valuable asset. Our companies share the same DNA and for that very reason are natural allies.”