Mitsubishi Heavy Industries intends to increase sales of its geothermal business
Mitsubishi turbine at the Hellisheidi geothermal power plant, Iceland (source: flickr/ ThinkGeoEnergy, creative commons)
Alexander Richter
25 Jan 2012
Japanese Mitsubisishi Heavy Industries announces plans to increase annual sales of its geothermal power business to $234 million. The company currently holds about 25% market share in the world geothermal pwoer system market.
Announced last week, Mitsubishi Heavy Industries (MHI) plans “to raise the annual sales of its geothermal power business to 18 billion yen ($234 million). Geothermal power development is on the move in the world because of its low carbon nature among other factors. MHI, which holds a leading 24.6 per cent share in the world geothermal power system market, intends to expand its geothermal business in keeping with the growth of the entire market.
The total geothermal power capacity in the world is 10,710 MW as of 2010. Because geothermal development is gaining momentum in the world owing to increasing energy demand, necessity to reduce carbon dioxide emissions and soaring fossil fuel prices, geothermal power capacity is expected to grow at a rate of 1,000 MW per year until 2015.
MHI has supplied a total of 100 geothermal power generation systems, notably large-scale flash cycle systems having an electric output of about 50 MW. It will increase proposal and delivery of full turnkey design and construction projects by use of its worldwide network. The company will also actively promote supply of individual components.”
Source: Eco-Business
