Japan's Mitsubishi Heavy Industries Ltd. (MHI) has established a new subsidiary with headquarters in the UK in a quest to capitalise on the growing demand for new power plants in Europe.
The new company, Mitsubishi Power Systems Europe Ltd. (MPSE) will target the market for combined cycle gas turbine equipment as well as renewable energy systems. Its future plans call for MPSE to expand into Russia and the Middle East.
In the EU, economic growth is driving demand for power generation equipment for new power plants and for the rehabilitation of existing plants. Against this backdrop, sales of gas and steam turbines are expected to treble in volume between 2006 and 2013. Investments in renewable energy applications such as wind turbines and photovoltaic power generation are also robust, supported by aggressive subsidizing policies throughout the region.
MHI has positioned power system operations as one of its core businesses in its current medium-term business plan, and sees Europe as one of the largest markets in the world. It has already delivered about 30 large steam turbine units to the region as well as over 30 gas turbines.
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