French electric utility ENGIE and Japan’s Mitsubishi Heavy Industries (MHI) have signed a memorandum of understanding (MoU) to collaborate on the energy value chain and technology.

The agreement includes development of technologies and solutions such as conventional and nuclear power plants, renewable energy technologies, and innovative services designed to increase energy-efficiency, optimise the use of resources and reduce CO2 emissions.

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The companies will also develop technologies that will reduce emissions of electrical systems globally and increase process efficiency.

"Cooperation between technology suppliers and utilities…will contribute to shorter times to market and a better response to the customer needs."

Also to be explored are the development of efficient gas turbines, along with a combination of electricity, heat and hydrogen, fuel cells, monitoring systems and the advancement of nuclear-related businesses delivering reliable carbon-free base-load electricity.

The MoU was announced after a meeting between French and Japanese Prime Ministers in Tokyo on 5 October.

The agreement builds on their long-term relationship as worldwide purchaser-suppliers, and partnerships.

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MHI CEO Shunichi Miyanaga said: "The on-going systemic change of the energy sector and the need to drastically reduce greenhouse gases emissions call for shorter innovation cycles and a holistic view of the energy value chain: I’m convinced that closer cooperation between technology suppliers and utilities, as reflected in this MoU, will contribute to shorter times to market and a better response to the customer needs while using the energy resources with maximum efficiency."

ENGIE CEO Gérard Mestrallet said: "The concluded cooperation agreement reflects our mutual commitment to provide the most up-to-date solutions for the energy sector across the globe, and will serve as a stepping stone to pave the way to explore new opportunities for cooperation leveraging our technical expertise and past experience of working together."

They companies have already completed installation and commissioning of several projects worldwide.