Japan-headed energy technology major Mitsubishi Power Ltd and Spain-headed power utility major Iberdrola S.A. have signed a collaboration agreement to jointly develop competitive, clean and safe energy solutions based on renewable energy that promotes the decarbonization of industrial production in different regions around the world.
The alliance will bring together the capabilities of Iberdrola, one of the world’s major clean energy companies and a leader in renewables with an ambitious strategy to promote economic and employment recovery based on green principles; and Mitsubishi Power, a leading supplier of power generation and storage equipment, from gas and steam turbines, generators, electrolysis units, battery storage systems, and high-temperature heat pumps to steam and solar photovoltaic power generation processes.
Iberdrola and Mitsubishi Power have been collaborating in supporting decarbonization in the power generation sector by providing high-efficiency GTCC projects. With using this collaborating experience in GTCC projects, we will jointly develop and deploy the necessary hydrogen infrastructure, battery energy storage systems, and electrified heat production systems to decarbonize the power and industrial sectors. This joint development with Iberdrola fulfills our mission to create a future that works for people and the planet by developing innovative power and storage solutions to realize a carbon-neutral future, said Ken Kawai, President, and CEO of Mitsubishi Power.
Specifically, the alliance between the two companies aims to develop green hydrogen production facilities, battery storage systems, and electrified heat production facilities with the aim of promoting carbon-neutral industries in the short- and medium-term.
The agreement represents a very important milestone in our strategy of developing alliances with key players in the industrial sector – which is one of the most difficult to decarbonize – allowing us to advance efficient electrification in the short and medium-term. With the expansion of renewable solutions such as the electrification of heat, battery storage, and green hydrogen in industrial manufacturing processes, we are putting our capabilities at the service of an urgent and common goal: to build a more sustainable and emissions-free economic model, offering development opportunities for industry and employment, explained Aitor Moso, Iberdrola’s director of Liberalized Business.