Japanese firms plan consolidation of hydroelectric power generation system business

Hitachi Ltd., Mitsubishi Electric Corporation and Mitsubishi Heavy Industries Ltd. announced that they have entered into a basic agreement calling for the three companies to consolidate their hydroelectric power generation system operations.

Discussions toward this end have been under way since last year, when a basic agreement regarding the hydropower business consolidation was reached.

The three companies agreed to establish a preparatory company in May 2011 as a subsidiary of Hitachi and to transfer their hydroelectric power generation system operations to the preparatory company by way of simplified company split, a press release states.

Against this backdrop, Hitachi, Mitsubishi Electric and MHI reached a common recognition that the most effective means to strengthen and expand related business would be to pool their respective operating resources and engage jointly in hydroelectric power generation system operations, a press release states.

For more hydropower news and information, click here

Previous articleU.S. seeks seismic evaluation of A.V. Watkins Dam in Utah
Next articleCemex to supply cement for Reventazon dam, hydro project in Costa Rica

No posts to display