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Wednesday, 22 September 2010, 13:41 HKT/SGT

Source: Mitsubishi Corporation
Mitsubishi Corporation and Endesa S.A. Agree to Feasability Study for EV Infrastructure

TOKYO, Sept 22, 2010 - (ACN Newswire) - Mitsubishi Corporation (MC) and Endesa S.A. (Endesa) have signed a Memorandum of Understanding (MOU) to launch a feasibility study (F/S) on the development of recharging infrastructure for an EV-powered society.

The partners are working to promote electrical transportation (i.e. reduce our dependency on fossil fuels and lower CO2 emissions), and develop the business model and technologies to optimize energy supply and demand.

On September 21 the MOU was signed in Tokyo. Attending were Mr. Prado, chairman of Endesa, and distinguished guests. Under this MOU, MC and Endesa aim to parlay their respective expertise into the development of EV technologies that can help realize a low-carbon society. The F/S will cover the following: 1) introduction of Vehicle to Grid (V2G) technologies and electric vehicles; 2) building EV related infrastructure; 3) functionally expanding operations in harmony with other energy management systems; and 4) studying potential deployment to other areas such as the EU and Latin America. Both companies will continue the F/S until the end of March 2011. They will move forward with preliminary trials once the Joint Implementation Agreement on these has been finalized.

Endesa is Spain's leading electrical utilities company with a growing presence in various segments of the natural gas market in Spain and Portugal. The company operates in nine countries, employs a workforce of 26,300, and has over 38,400 MW of installed capacity. It is also taking a proactive approach to building Smart Communities, working with Acciona and Greenpower to develop the "Smart City" project in Marga, Spain.

Meanwhile, through active participation in infrastructure projects like this one, MC is working to help realize low-carbon societies and economic growth.

Corporate Communications Dept.
Mitsubishi Corporation
Tel: +81-3-3210-2172

Topic: Business Tieup
Sectors: Alternative Energy
From the Asia Corporate News Network

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