Mitsubishi has assumed around 15% share in Acciona Termosolar, a company owned by Acciona Energia, the renewable energy business segment of Acciona Group of companies. This acquisition will make Mitsubishi as the largest solar thermal capability owner among the other Japanese companies.
The four Concentrating Solar Power plants acquired by Mitsubishi are placed in the southern parts of Spain known for its high level sun energy. Acciona has already received pre-allocation for the plants under the special regime register of Spain and the plants are permitted to get the necessary feed-in-tariff benefits. The country has one of the well organized government mechanisms to assist renewable energy development. Necessary project financing needed for the plants are already secured.
The four CSP projects with a total project cost of approximately one billion EUR will produce around 450 million kWh of electric power and can reduce 430,000 tons carbon discharges every year.