Mitsubishi Electric Signs Agreement with HD Renewable Energy, Will Establish Joint Venture and Acquire Stake

Audio By Carbonatix

TOKYO--(BUSINESS WIRE)--Feb 17, 2025--

Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has signed an agreement with HD Renewable Energy Co., Ltd., a Taipei-based developer and operator of solar power and battery storage systems, to collaborate on initiatives that will help realize carbon neutrality. As part of their collaboration, the companies will establish an aggregation business joint venture and Mitsubishi Electric will acquire a stake in HD Renewable Energy.

Amid rising fuel costs and global efforts to realize carbon neutrality, Japan is actively promoting the adoption of renewable energy. However, owing to fluctuations in power generation from renewable sources such as solar and wind resulting from their dependance on seasons, weather, and time of day, transmission system operators are required to continuously monitor the demand for power and fine-tune adjust supply and demand. Against this backdrop, there is expansion in the aggregation market, where multiple distributed energy resources (DERs) such as renewable energy generation facilities and battery storage systems are utilized to help stabilize power grids and maximize the profitability of power generation and storage businesses.

For the full text, please visit:www.MitsubishiElectric.com/news/

View source version on businesswire.com:https://www.businesswire.com/news/home/20250216667393/en/

CONTACT: Customer Inquiries

Sustainability Planning Division

Sustainability Innovation Group

Mitsubishi Electric Corporation

[email protected]

www.MitsubishiElectric.com/

Media Inquiries

Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2332

[email protected]

www.MitsubishiElectric.com/news/

KEYWORD: JAPAN TAIWAN ASIA PACIFIC

INDUSTRY KEYWORD: HARDWARE UTILITIES SUSTAINABILITY BATTERIES ALTERNATIVE ENERGY ENERGY TECHNOLOGY ENVIRONMENT OTHER MANUFACTURING GREEN TECHNOLOGY CLIMATE CHANGE MANUFACTURING

SOURCE: Mitsubishi Electric Corporation

Copyright Business Wire 2025.

PUB: 02/17/2025 01:40 AM/DISC: 02/17/2025 01:40 AM

http://www.businesswire.com/news/home/20250216667393/en