Mitsubishi Heavy Industries and Osaka Gas Acquire Clean Energy Solution, Brighter Future Solar Project
- Investment in 11 MW ac solar PV project reinforces MHI's commitment to accelerate decarbonization -
TOKYO, Sep 13, 2021 - (JCN Newswire) - Mitsubishi Heavy Industries (MHI) Group in partnership with Osaka Gas USA has purchased equity interest in the Brighter Future Solar Farm from project developer Oriden, an MHI Group company. The solar photovoltaic (PV) project will provide 11 megawatts of clean power for Blue Ridge Energy in North Carolina, United States. Following project completion, Mitsubishi Heavy Industries America, Inc. (MHIA) and Osaka Gas USA will manage day-to-day operations.
|The solar power plant currently under construction|
MHI Group is committed to building an innovative solutions ecosystem to realize a carbon neutral future. The global company identifies investment opportunities in carbon reduction projects and climate tech start-ups to accelerate its energy transition activities.
The Brighter Future Solar project aligns with that goal. It will generate and send 19,000 megawatt hours of carbon-free electricity into the grid annually. The project will enable Blue Ridge Energy to work toward its low cost, low carbon future that has two significant carbon reduction targets: to achieve 50 percent reduction in carbon emissions from 2005 levels by 2030 and to achieve net zero carbon emissions by 2050. Blue Ridge Energy will purchase the full output of the project through a 25-year fully bundled Power Purchase Agreement.
"MHI Group and Osaka Gas have a long history of collaboration and partnership," said Yoshihiro Shiraiwa, President and CEO, Mitsubishi Heavy Industries America. "As we look toward the next few decades, we must work closely with new and existing partners to develop new business models that advance our goals for the energy transition. This partnership starts us on that path."
"Osaka Gas USA is pleased to partner with MHI Group on this project and hopes to expand our longstanding relationship through future collaboration," said Tetsushi Ikuta, President of Osaka Gas USA. "Through this investment, we look forward to providing low-cost clean energy to ratepayers in North Carolina, while continuing our transition to a greener portfolio."
The Brighter Future Solar investment establishes a new business model for MHI Group. Oriden is a company backed by the MHI Group company Mitsubishi Power Americas, Inc., an industry leader in energy solutions including power generation. The existing Oriden-MHI Group relationship strengthens co-investors' trust.
Masahiro Ogiso, President, Oriden, said, "Our custom-built Brighter Future Solar project in conjunction with MHI Group's investment will enable cost savings and allow Blue Ridge Energy to sustainably serve its members. Together with our partners and customers, we are creating a Change in Power."
Located in Pittsburgh, Oriden develops, constructs, finances, owns and operates renewable energy projects throughout the United States. As local governments, public institutions and corporations prioritize cleaner sources for their energy needs, they want a developer with the ingenuity, the agility and the speed of a start-up - a fearless pioneer. But they also want to mitigate risk with a proven veteran that has the financial strength and experience to develop, commercialize, operate and own a highly complex project. Oriden is a full-service renewable energy developer funded by Mitsubishi Power Americas, Inc., an industry leader in energy solutions including power generation. For more information, please visit www.oridenpower.com.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on www.spectra.mhi.com.
Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Energy, Alternative Energy
Copyright ©2022 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
More Latest Release >>
Honda Signs Joint Development Agreement with SES, an EV Battery Research and Development Company
Jan 19, 2022 13:01 JST
Eisai's Anti-amyloid Beta Protofibril Antibody Lecanemab Selected as the Background Therapy for the Tau Nexgen Study
Jan 19, 2022 10:06 JST
Toyota Announces Production Plans in February 2022, as of January 18
Jan 18, 2022 17:06 JST
MHI: Successful Demonstration Test of World's First Fully Autonomous Ship Navigation Systems on Coastal Ferry in Northern Kyushu
Jan 18, 2022 14:18 JST
Honda to Begin Sales of EU32i, All-New Portable Generator Equipped with Sine Wave Inverter, in Europe in March 2022
Jan 18, 2022 10:29 JST
Toyota GR YARIS Rally1 Ready for the WRC Hybrid Revolution
Jan 17, 2022 18:35 JST
DENSO and Aisan Reach Agreement on Transfer of Fuel Pump Module Business
Jan 17, 2022 15:34 JST
Eisai to Present Abstracts on Lenvatinib at 2022 ASCO Gastrointestinal Cancers Symposium
Jan 17, 2022 11:44 JST
Dakar Victory for TOYOTA GAZOO Racing as Al-attiyah/Baumel Take the Win
Jan 17, 2022 10:55 JST
Airbus, NTT, DOCOMO and SKY Perfect JSAT Jointly Studying Connectivity Services from High-Altitude Platform Stations (HAPS)
Jan 17, 2022 10:30 JST
DOCOMO Develops Solution to Create High-frequency Mobile Cells By Placing Small Plastic Antenna on Dielectric Waveguide Cable
Jan 17, 2022 10:16 JST
Hitachi Rail Partners Exclusively with Intermodal Telematics to Offer a Digital Solution to Improve Rail Freight Efficiency and Safety
Jan 14, 2022 18:04 JST
DENSO Develops Global Safety Package 3 to Improve Vehicle Sensing
Jan 14, 2022 13:41 JST
TOYOTA GAZOO Racing Unveils GR GT3 Concept and GRMN Yaris as Embodiments of Making Ever-better Motorsports-bred Cars
Jan 14, 2022 12:06 JST
Lexus to Debut the NX PHEV OFFROAD Concept and Hydrogen Engine Equipped ROV Concept at the Tokyo Auto Salon
Jan 14, 2022 10:56 JST
TOYOTA GAZOO Racing Premieres GRMN Yaris in Japan
Jan 14, 2022 10:26 JST
Toyota Launches New Noah and Voxy Minivans in Japan
Jan 13, 2022 14:21 JST
Eisai to Launch Digital Too "Cogmate" in Taiwan and Hong Kong for Self-Assessment of Brain Performance (Brain Health)
Jan 13, 2022 13:26 JST
Soft Space Enters into Strategic Partnership with JCB
Jan 13, 2022 12:00 JST
Lexus Brings a Custom Tuned LX "OFFROAD" Model to the Tokyo Auto Salon 2022
Jan 12, 2022 15:32 JST