Mitsubishi Electric Corporation 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 realise 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.
The joint venture will help fund solar power and battery storage system development, investment and asset management, and electricity retailing.
Their new joint venture company will dedicate itself to achieving progress in these areas, aggregating multiple DERs, including solar power and battery storage systems owned by HD Renewable Energy in Japan. Part of Mitsubishi Electric's Energy & Facility solutions* strategy, it will aim to provide services that help achieve efficient power utilization and CO2 reductions for both individual businesses and society at large.
The companies target to establish the joint venture in Japan in April 2025, with further details currently under discussion.