MHPS is a long-term exhibitor at the GRC Annual Meeting & Expo
Japanese technology conglomerate Hitachi will withdraw from Mitsubishi Hitachi Power Systems (MHPS), a joint venture it established in 2014 with another power equipment giant, Mitsubishi Heavy Industries (MHI), over a dispute stemming from construction of two massive defect-ridden coal plants in South Africa.
Under a Dec. 18-announced settlement reached by MHI and Hitachi, Hitachi will pay MHI 200 billion yen ($1.8 billion) in March, and transfer its 35% stake in MHPS to MHI, which currently holds the remaining 65%.
The two Japanese giants created the flagship power plant and equipment venture company to combine their thermal power generation businesses in February 2014, with an eye toward gaining more clout in a rapidly changing global power market. MHPS has since grown into a massive company with nearly 19,000 employees, and today is a brand-name builder of gas, steam, integrated coal gasification combined cycle (IGCC), and geothermal plants, and a solid contender in the gas turbine, steam turbine, boiler, environmental controls, generators, control systems, and fuel cell markets.
- Monday, March 25, 2019 - Finance: Two Geothermal Energy Turbine Manufacturers Could Form a Joint Venture
- Thursday, March 29, 2018 - USA: Mitsubishi Hitachi Power Systems Geothermal Power Unit Part of New Business Line
- Monday, November 28, 2016 - Japan: Mitsubishi Hitachi Power Systems Looks to Expand Geothermal Turbine Business
- Monday, July 28, 2014 - Japan: Geothermal Turbine Companies Consider Merger
- Thursday, June 12, 2014 - Japan, France: Hitachi, Mitsubishi Heavy to Ally in Siemens-Led Alstom Bid
- Thursday, November 29, 2012 Japan: Mitsubishi and Hitachi to Merge Geothermal Generation Businesses
