The Mitsubishi companies involved include Mitsubishi Heavy Industries Ltd (7011.T)(MHI) and Mitsubishi Power Systems Europe Ltd.

The agreement focuses on low carbon electricity production and management and low carbon transport technology. The companies said they hope to establish joint development projects, ventures, investments and supply arrangements.

They will explore a range of technologies including offshore wind farms, advanced technology for smart electricity grids and low carbon vehicles, carbon capture and storage and high-efficiency power generation.

SSE established a Centre of Engineering Excellence in Renewable Energy in partnership with the University of Strathclyde in 2009, with over 300 skilled professional jobs to be created by SSE over three years. The new agreement is expected to create up to 100 additional renewable energy jobs at the Centre.

“This agreement represents one of the most significant industrial partnerships to be established in Scotland since the heyday of North Sea oil--and low carbon energy represents Scotland’s biggest economic opportunity since then," Colin Hood, Chief Operating Officer of SSE said.

Website: www.scottish-southern.co.uk

Image Credit: Tony Page

Reprinted with permission from Sustainable Business