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TOKYO (Reuters) – Mitsubishi Electric (6503.T) and Mitsubishi Heavy Industries (7011.T) have agreed to form a joint venture to combine their power generation businesses and expand globally, they said on Monday. Announced.
The partnership plans between the sister companies come after a thermal power plant joint venture between Mitsubishi Heavy Industries and electronics giant Hitachi (6501.T) collapsed in 2020 after a dispute over a project in South Africa. rice field.
The two companies aim to establish a power generation joint venture by April 1, 2024, which will be majority-owned by Mitsubishi Electric.
The integrated business will include basic plans for the development, manufacture and service of generators directly connected to the power plant’s turbines and other facilities as the utility seeks to decarbonise. they said.
“Economic growth, especially in emerging countries, is expected to increase the demand for electricity.In the future, existing thermal power generation will be able to power the system through fuel switching to hydrogen, ammonia, and other carbon-free fuels. We will decarbonise,” the companies said.
Interview: Kantaro Komiya Editing: Kim Chang-ran, Alexandra Hudson
Our Standards: Thomson Reuters Trust Principles.
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