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Mitsubishi acquires 34% stake in Acciona PV project

16 March 2009

Mitsubishi Corporation has signed an agreement with Acciona S.A. to acquire a 34% equity interest in its subsidiary Amper Central Solar S.A, the developer and operator of the 45.8 MW solar photovoltaic (PV) project in Amareleja, Portugal.

The Amareleja PV project is said to have the world’s largest grid connected solar PV generation capacity. The project has received feed-in-tariff (FiT) approval and has already commenced commercial operations. The total project cost is approximately €261 million and it is expected to generate about 93 GWh of electricity per annum.

The reason behind Mitsubishi’s involvement is its decision to actively pursue new opportunities in power generation using renewable energies such as solar thermal power, solar PV and wind power.

This project marks the first collaboration between Mitsubishi and Acciona, and both companies intend to explore how to further cooperate on renewable energy and other sustainable business.

 

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