Under the deal, the three companies will establish a preparatory company in May 2011, as a subsidiary of Hitachi.
The parties will transfer their hydroelectric power generation system operations to the preparatory company by way of simplified company split.
According to the companies, hydroelectric power generation is expected to attract continuous demand as a clean renewable energy in the coming years.
Against this backdrop, the companies reached a common recognition that the most effective means to strengthen and expand related business will be to pool their respective operating resources and engage jointly in hydroelectric power generation system operations, the companies said.
