A renewable energy R&D cooperation agreement is to be signed today by Governor of California Arnold Schwarzenegger and Minister of Industry, Trade and Labor Benjamin Ben-Eliezer. Schwarzenegger is currently visiting Israel to attend the 6th Saban Forum.

The cooperation agreement will enhance cooperation between Israel and California strategic R&D in renewable energy and environmental technologies by establishing joint ventures between Israeli renewable energy companies and municipal authorities in California.

The agreement will also encourage further mutual investment, and promote research collaboration.

According to Ben-Eliezer, this important agreement can boost research for the two sun-drenched states, and facilitate cooperation between researchers and industrialists on both sides.

Both the states are famous worldwide for having strong renewable energy capabilities, making this agreement much more important and desirable.