Power Engineering - UK launch for Mitsubishi Power Systems Europe

16 May 2008 - Mitsubishi Power Systems Europe, Ltd. (MPSE) this week launched its European Headquarters in London, where it has been established as the European subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). The company has been created in order to tap into fast growing demand for power generation equipment to support both new build plants and improvements to existing plants across the UK and continental Europe, in both conventional and renewable power generation.

MPSE has chosen to headquarter in London both to grow its presence in the domestic market and in order to use the UK as a springboard into Europe, North Africa and the Gulf. From its UK base, the company will focus on securing contracts to support construction of new thermal power generation plants. It will also provide ongoing management and maintenance services and promote expansion of the renewable energy business, which includes wind turbines and photovoltaic power generation systems.

Mr Akio Fukui, CEO, MPSE, commented, "Europe, and the UK in particular, have a dynamic energy markets which will see major investment over the next few years. By establishing MPSE's European headquarters in London we are well placed to tap into this growth and will be able to target a wide range of opportunities in new plant construction. Importantly we will also be able to draw on the UK's leading expertise in project management and its experience of delivering major contracts to deliver the best possible service to our customers."

Trade and Investment Minister Lord Digby Jones said, "The world energy landscape is undergoing a dramatic transformation, driven by the need for more energy, cleaner energy, and more secure sources of energy. On current trends, worldwide demand for energy is expected to rise by just over 50 per cent by 2030. Across the UK and Europe the energy market is especially strong and this creates great opportunities for a business such as MPSE, which is at the forefront of modern power generation.

"Growth in the renewables market is especially significant. We are committed to creating the right market conditions for the deployment of both carbon abatement technologies, such as high efficiency conventional power and carbon capture and storage, as well as renewable power such as on and offshore wind, wave and tidal. By choosing the UK as its European base, MPSE will further strengthen the UK's leadership in low carbon technologies and I welcome this investment from one of the world's great companies into the UK's fast developing market."

MPSE plans to build on MHI's existing presence in the European market where it has already delivered numerous power plant equipment contracts. From its UK base, MPSE is already winning new business in the UK and mainland Europe and is due to sign two long term service agreements for the maintenance of Gas Turbine Combined Cycle plants in Kent and Hull.

MPSE is also providing marketing, project management and post-construction maintenance services as part of major MHI contracts in the Netherlands and Turkey

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