With nearly 35,000MW installed capacity, Iberdrola already has more than 20 years of experience in renewable energy. Source: Iberdola

Mitsubishi Power and Iberdrola leaders have signed the co-operation agreement to identify opportunities for large-scale carbon-free renewable energy generation and storage projects for industrial use, one of the trickiest sectors to decarbonise.

The partners will form teams of experts to identify industrial-scale, carbon-free renewable energy generation and storage projects to drive the development of green hydrogen projects, battery storage systems, and heat electrification solutions in various regions.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Mitsubishi Power president and CEO Ken Kawai said: “Iberdrola and Mitsubishi Power have been collaborating in supporting decarbonisation in 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 decarbonise the power and industrial sectors.

“This joint development with Iberdrola fulfils our mission to create a future that works for people and the planet by developing innovative power and storage solutions to realise a carbon-neutral future.”

Iberdrola director of Liberalized Business Aitor Moso said: “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.”

With nearly 35,000MW of installed capacity, Iberdrola already has more than 20 years of experience in renewable energy. The company recently launched a major €150bn investment plan aimed to double network assets and triple renewable capacity.