Japan's Mitsubishi is furthering its commitment to its new energy business, which it aspires to be a leader in, by working with Spanish energy company Acciona to develop and operate renewable energy projects.
The companies will work together on international solar PV, wind power, solar thermal and bio-energy among other renewable solutions, they announced yesterday.
Mitsubishi says its plan could also see both companies invest in other companies working within their joint framework.
Mitsubishi has already acquired a 34% share of Portugal’s Amper Central Solar which is wholly-owned by Acciona.
Amper develops and operates the world’s largest PV solar plant in Moura, Portugal and the 45.8MW facility has already been grid-connected and is now operational.
At an investment of €261m, its estimated annual output is 93Gwh (93 million Kwh).
In addition to business investments, the alliance will include joint research and development projects in energy, water and infrastructure solutions.
Training programmes and an exchange of personnel will be carried out to help promote best practices and new-value creation in both companies.