LAKE MARY, Fla. & NEW ORLEANS--(BUSINESS WIRE)--Mitsubishi Power, a world leader in power generation and energy storage, and Entergy Corporation (NYSE: ETR), an integrated energy company engaged primarily in electric power production and retail distribution operations, signed a joint development agreement in which they will collaborate to bring decarbonization projects to Entergy’s utility businesses in Arkansas, Louisiana, including the separate jurisdiction of New Orleans, Mississippi and Texas. The relationship will foster collaboration on project development and technology solutions toward enabling Entergy to create a cleaner, more sustainable future for stakeholders by limiting carbon emissions from electric power generation.
Entergy has engaged with Mitsubishi Power because of the company’s demonstrated ability to provide innovative total solutions leveraging multiple technologies to reach decarbonization goals. Mitsubishi Power is a first mover in hydrogen-enabled gas turbine and long- and short-term storage solutions. It also provides the world’s first and only standard integrated green hydrogen packages. The Hydaptive™ and Hystore™ packages optimize integration across renewables, energy storage, and hydrogen-enabled gas turbine power plants, which all work together to create and incorporate green hydrogen — a key to reaching carbonless emissions.
Together Entergy and Mitsubishi Power will focus on
- developing hydrogen-capable gas turbine combined cycle facilities
- developing green hydrogen production, storage and transportation facilities
- creating nuclear-supplied electrolysis facilities with energy storage
- developing utility scale battery storage systems
- enabling economic growth through partnerships with the Entergy utility customers
Entergy has led the power generation industry in voluntarily reducing greenhouse gas emissions. In 2001, it was the first U.S. electric utility to commit to limiting carbon dioxide emissions, a goal it enhanced and extended through 2020. While operating one of the cleanest large-scale power generation fleets in the country, Entergy announced in March 2019 that it would further address climate risk by lowering its carbon emission rate to half of year-2000 levels by 2030.
Paul Hinnenkamp, Entergy’s Executive Vice President and Chief Operating Officer, said, “For two decades, sustainability has been a priority for Entergy. We have pledged to conduct our business in a manner that is environmentally, socially and economically sustainable that will benefit all our stakeholders. New technologies and innovative solutions to the challenges posed by climate change present opportunities for us to significantly decrease carbon emissions from our generation portfolio while maintaining low rates. We are pleased to welcome Mitsubishi Power as a collaborative partner in developing strategies to integrate these new technologies and solutions that support us achieving our environmental and customer commitments.”
This year Mitsubishi Power announced technologies representing years of development to enable the transition to a low-carbon then carbon-free grid. The company announced the sale of its first hydrogen-capable advanced class gas turbines in March for the Intermountain Power Plant, which plans to transition from coal to a mixture of 30 percent hydrogen with natural gas by 2025, ramping to 100 percent green hydrogen fuel by 2045. Last month the company announced a 200 megawatt lithium-ion battery storage project in Texas, its largest to date. This month Mitsubishi Power announced the world’s first green hydrogen standard packages for power balancing and energy storage.
Paul Browning, Mitsubishi Power America’s President and Chief Executive Officer, said, “In recent years we have supported Entergy on three large power projects that the utility executed on schedule and on budget as part of a multi-year project to modernize the power generation fleet and voluntarily reduce carbon emissions. Now, we’re proud to work with Entergy on the next phase of decarbonization. At Mitsubishi Power, our mission is to provide power generation and storage solutions to our customers that enable them to affordably and reliably combat climate change and advance human prosperity. We look forward to extending our long-term collaboration with Entergy. Together, we will create a Change in Power.”
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,000 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North and South America. Mitsubishi Power’s power generation solutions include natural gas, steam, aero-derivative, geothermal, distributed renewable technologies, environmental controls, and services. Energy storage solutions include green hydrogen and battery energy storage systems. Mitsubishi Power also offers digital solutions that enable autonomous operations and maintenance of power assets. Mitsubishi Power is a part of Mitsubishi Power, Ltd., a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.
About Entergy Corporation
Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees. For more information, visit www.entergy.com and follow @Entergy on social media.
Entergy’s statements concerning its environmental plans, goals, beliefs and expectations, including statements regarding its greenhouse gas reduction goals, strategies and actions it may take to achieve such goals, statements regarding opportunities to partner with customers and others to advance technology development or reduce societal emissions and other statements of Entergy’s plans, beliefs, or expectations included in this release are “forward-looking statements” which apply only as of the dates indicated.
Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among other things, uncertainties associated with regulatory proceedings and other cost recovery mechanisms, risks associated with executing on our business strategies, effects of changes in laws, regulations or policies, the effects of technological change, including the costs, pace of development and commercialization of new and emerging technologies, uncertainties and other factors discussed in Entergy’s most recent Annual Report on Form 10-K and subsequent reports and filings made under the Securities Exchange Act of 1934.