MPSA Vice President and Chief Service Officer Harm Toren stated, "We are proud to receive this opportunity to provide Infigen with high quality, full scope maintenance and service for these wind turbines."
"Both MPSA and Infigen have entered into agreements where both parties win when the wind turbines at these projects are online and powering America with renewable energy. We believe this type of business model is a powerful example of incentivized technology support for an industry seeking additional efficiencies," he stated.
Reducing Capital Needs to Focus on Strategic Opportunities
Infigen explained that these agreements, which on an equity interest basis cover 39% of Infigen Energy’s US installed capacity, will assist towards fulfilling Infigen’s objective of containing post warranty wind farm costs across its US portfolio. The agreements will also reduce the post warranty working capital needs at each of these five wind farms.
Infigen’s Managing Director Miles George said, "These agreements further enhance Infigen’s ability to manage the level and variability of post warranty wind farm costs. Infigen will continue to refine and implement its response strategies to contain operating costs."
Infigen US’s Chief Executive Officer Craig Carson said, "These agreements enable Infigen’s US business to remain competitive at high service levels in a post warranty environment and to focus on other strategic opportunities."
About Infigen Energy
Infigen Energy is a specialist renewable energy business. We have interests in 24 wind farms across Australia and the United States. With a total installed capacity in excess of 1,600MW (on an equity interest basis), we currently generate enough renewable energy per year to power over half a million households.
As a fully integrated renewable energy business in Australia, we develop, build, own and operate energy generation assets and directly manage the sale of the electricity that we produce to a range of customers in the wholesale market.
Infigen Energy trades on the Australian Securities Exchange under the code IFN. For further information please visit our website: www.infigenenergy.com
About Mitsubishi Power Systems Americas, Inc.
Mitsubishi Power Systems Americas, Inc. (MPSA) was established in 2001 and is headquartered in Lake Mary, Florida with key operations in Orlando, FL, Savannah, GA, Newport Beach, CA, and Houston, TX. MPSA provides a wide variety of products and services for the electric power generation industry including gas, steam, wind and geothermal turbines, boilers, and selective catalytic reduction systems. The company’s ultimate parent is Mitsubishi Heavy Industries, Ltd. (MHI), a diversified Fortune "Global 150" company with more than $30 billion in annual revenues and 40,000 employees worldwide. MHI is an international leader in the design and supply of energy, aerospace, machinery, transportation, and environmental systems and equipment.
SOURCE Mitsubishi Power Systems Americas, Inc.