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| September 8, 2003 No.0959 | ||
| Formal Order for Gas Turbine Combined-cycle
Power Plant for Spain Long-term Service Contract Also Secured |
| Tokyo, September 8, 2003, -- Mitsubishi Heavy Industries, Ltd. (MHI) has been formally awarded a contract by AES Corporation, a leading global power company
based in the U.S., for a gas turbine combined-cycle power plant to be constructed in Cartagena, in southeast Spain. The order which MHI and Mitsubishi Corporation,
in cooperation with Nichimen Corporation of Japan, had been awarded, has now become effective upon recent completion of financing arrangements by AES, and MHI will
proceed to bring plant construction under way. Plant operation is slated to commence in November 2005. With total power generation capacity of 1,200 MW (megawatts), the plant will be among Spain's largest in scale. MHI will supply three gas turbines, three steam turbines and three heat recovery steam generators (HRSG). Mitsubishi Electric Corporation will manufacture three generators. Provision of other auxiliary equipment and installation and construction work will be performed by the Spanish engineering firm INITEC Energia. MHI also signed a long-term service agreement with AES under which it will undertake maintenance work on the gas turbines for a maximum duration of eight years after the plant goes onstream. AES is a leading global IPP (independent power producer) that operates more than 150 power generation businesses in 28 countries. In Europe, the number of power generation businesses operated by foreign companies is increasing in line with liberalization of the power industry. The Cartagena project is drawing attention as the first undertaking of its kind in Spain to be conducted by a non-European company. MHI has received two other European orders for its gas turbines recently: first in August 2002 from the Spanish electricity company ENDESA for one unit, and another this June from Electrabel SA, a Belgian electricity producer, for two units. MHI has long ties with Spain's power generation industry tracing back to 1972, to the first delivery to ENDESA of power generation equipment for its Compostilla plant. Through the years core equipment, including steam turbines and boilers, has been supplied in large numbers, and presently power generation equipment provided by MHI generates an estimated 15% of all power produced in Spain. # # #
About Mitsubishi Heavy Industries Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading global heavy machinery manufacturers, with consolidated sales of 2,593 billion yen (US$21.6 billion) in fiscal 2002 (year ended March 31, 2003). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, steel plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website (http://www.mhi.co.jp). PRESS CONTACT: Hideo Ikuno: h.ikuno@daiya-pr.co.jp Tel: +813-6716-5277, Fax: +813-6716-5929 Daiya PR (in charge of public relations for Mitsubishi Heavy Industries) |
