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| Mitsubishi and Acciona sign an international strategic alliance  Mitsubishi Corporation, the Japanese general trading company, and Acciona, the Spanish leader in renewable energies, infrastructure and water services, have signed a strategic alliance to develop and operate renewable energy projects and share innovation aimed at leading the development of sustainable solutions worldwide. Both companies signed the Memorandum of Understanding in Madrid with "the firm commitment to promote economic and social development and protect the environment with a global perspective". Mitsubishi Corporation and Acciona will jointly develop projects in renewable energy - a field in which Acciona has already established a strategic global presence and a leadership position in wind power, solar thermal, PV solar energy and bio-energy. In addition to renewable energy, the agreement envisages that both companies will pursue international business opportunities in water management and treatment, as well as sustainable construction and transportation. The geographic area of the strategic alliance shall be all parts of the world, making the most of the technological and geographical strengths of each partner. As part of the agreement, and to make the alliance effective, Mitsubishi and Acciona are targeting two billion Euros for working together on renewable energy projects worldwide. In addition, both partners may take equity stakes in projects or companies that fall within the joint strategy framework or that strengthen their partnership. The management of projects and joint initiatives and the development of the alliance will be overseen by a management committee with an equal number of representatives from both companies. Along these lines and as a first step on the new path of collaboration, Mitsubishi Corporation teamed up with Acciona in March this year by taking a 34% equity stake in the world's largest PV solar plant, in Amareleja, Moura (Portugal). The 45.8 MWp facility is the world's largest grid-connected solar plant. It represented an investment of 261 million euros, and its estimated annual output is of 93 million KWh. The Amareleja PV solar plant is a landmark project thanks to its generation capacity, state-of-the-art technology and contribution to local economic development: three elements that made it an ideal launch pad for the collaboration between Acciona and Mitsubishi. Both partners are already studying a range of future projects aimed at taking their collaboration further. write your comments about the article :: © 2009 Construction News :: home page |