Mitsubishi Electric & HD Renewable to form joint venture & acquire stake

HD Renewable Energy and Mitsubishi Electric partnered to launch a Japan-based energy aggregation venture, focusing on solar, battery storage, and PPAs.

By Prudhvi Rani 17 Feb 2025 in Business Bytes Market Bytes

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Mitsubishi Electric and HD Renewable Energy planned to launch their energy aggregation joint venture in Japan by April 2025. Image Source: Mitsubishi Electric Corporation

Japan-headquartered Mitsubishi Electric Corporation  has partnered with HD Renewable Energy to support carbon neutrality. They planned to acquire a stake in HD Renewable Energy and set up an aggregation business joint venture. The joint venture would combine distributed energy resources (DERs), including HD Renewable Energy’s solar and battery storage systems in Japan. Mitsubishi Electric invested in HD Renewable Energy through a third-party share allocation to strengthen their partnership. The joint venture was planned to start in April 2025. Mitsubishi Electric also explored corporate PPA options with HD Renewable Energy to boost renewable energy use and cut CO₂ emissions.

#Japan #MitsubishiElectricCorporation #HDRenewableEnergy #EnergyAggregation

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