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Hitachi consolidates with Mitsubishi to create hydropower venture

10/04/2011
A canal near Bronte lagoon, tasmania Australia...

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Hitachi, Ltd., Mitsubishi Electric Corporation, and Mitsubishi Heavy Industries, Ltd. entered into an agreement to consolidate their hydroelectric power generation system operations, forming a founding company that in the long term will address the demand for alternative energy.

Through the consolidation, the three companies will be able to integrate their engineering development and design strengths. This will also upgrade their human resources and stabilize technologies and expertise in the hydropower business.

Under the agreement, the three companies will establish a company to be called HM Hydro, Ltd, that will serve as the platform for the operations of the new company. It will be launched in May as a Hitachi subsidiary.

The companies will each transfer their own hydroelectric operations to HM Hydro, which include marketing, installation and after-sale services of hydropower equipment; hydroelectric power generation systems engineering; and development and design of core components of hydroelectric systems.

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