Iberdrola and Mitsubishi Power partner for renewable technologies
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Iberdrola and Mitsubishi Power partner for renewable technologies

By Yoana Cholteeva 21 May 2021 (Last Updated May 21st, 2021 17:49)

Spanish utility company Iberdrola and Japanese Mitsubishi Power have signed an agreement to jointly develop competitive, clean, and safe renewable energy technologies that promote the decarbonisation of industrial production in different regions around the world.

Iberdrola and Mitsubishi Power partner for renewable technologies
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.

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.