Russian power supplier INTER RAO UES and Australian energy services firm WorleyParsons have set up a joint venture to promote new technologies in electrical power engineering, INTER RAO said on Monday.

INTER RAO will own 51 percent of the joint venture, while WorleyParsons EA Holdings PTY Limited will have 49 percent, INTER RAO said.

"At the initial stage, projects in the traditional electric power sphere will be developed with a gradual transition from supervision and conceptual development functions to a full cycle of designing and construction management. In the future, we plan to implement projects using renewable energy sources," INTER RAO said.

MOSCOW, September 6 (RIA Novosti)