ISLAMABAD (APP) Pakistan and a Korean consortium of Hyundai have signed a Memorandum of Understanding (MoU) under which the consortium would invest on 50 MW Green energy Yuna Wind Power Project (Jhimpir, Sindh). According to a statement issued by the Board of Investment (BOI) here on Saturday , the Korean consortium of Hyundai Heavy Industries, Hyundai Engineering, Hyundai Corporation and Korea Southern Power Co. Ltd. (KOSPO) and YB Group (Lucky Energy) Pakistan has signed an MOU in Seoul on January 25, 2010 for the 50 MW Yuna Wind Power Project (Jhimpir Sindh). Ho-Ki, Nam, CEO KOSPO alongwith top executives of Hyundai and Sohail Tabba, CEO Lucky Energy Pvt. Ltd. Signed the MOU. Pakistans Ambassador to Korea also attended the ceremony. The statement said that this is the first ever foreign investment / joint venture in the Green Energy, Wind Power sector of Pakistan. It is hoped that this will only be the beginning of greater business collaboration in the wind and power sector having 50,000 MW potential. At this time of acute energy shortage in Pakistan, it is a step in the right direction. Pakistan like other countries , is looking to invest in renewable energy amid higher oil prices and growing environmental concerns. BOI statement further hoped that more Korean investment will follow suit in our green energy sector (wind, hydro, solar and bio energy).After Daewoo Corporations M2 project in the 90s, LOTTE Group recently had a successful visit of Pakistan and now Hyundai is investing in our clean energy area. Meanwhile, Minister of State for Investment Salim H Mandiwala has said that South Korean company Daewoo is interested in investments worth multimillion dollars in Pakistan.