In addition, the agreement covers business opportunities in water management and treatment, as well as sustainable construction and transportation, which play key roles in suppressing greenhouse gas emissions.
As part of the agreement, Mitsubishi and Acciona will work together on a global basis, to develop renewable energy projects or invest in companies that fall within the joint strategy framework. The partners’ target for the scope of this business is EUR2 billion in total.
As the first step, Mitsubishi acquired a 34% share of Portugal’s Amper Central Solar S.A (Amper), which is wholly-owned by Acciona. Amper developed and operates the world’s largest PV solar plant in Moura, Portugal, and the 45.8 MW facility has already been grid-connected and is now operational. At an investment of EUR261 million, its estimated annual output is of 93 Gwh (93 million Kwh). It is also expected to cut CO2 emissions by about 89,000 tonnes per year.
In addition to business investments, the alliance will include joint research and development projects in energy, water, and infrastructure solutions. Training programs and an exchange of personnel will be carried out to help promote best practices and new-value creation in both companies.
Mitsubishi’s Objective
Mitsubishi has decided to develop its new energy business, having established the New Energy & the Environment Division as part of its new “Corporate Development Section.” This section was set up on April 1, 2009, and is directly overseen by the company president, Mr. Yorihiko Kojima. Mitsubishi is intent on becoming a leading player in new energy and environmental businesses. This collaboration with Acciona should help in this aim, giving Mitsubishi a solid partnership through which to leverage its industrial strength and global reach.
