Iberdrola and Mitsubishi Power have signed a collaboration agreement to jointly develop competitive, clean and safe energy solutions based on renewable energy that promote the decarbonization of industrial production in different regions around the world.

The alliance between the two companies, world leaders in storage and renewable energy production and equipment, will develop green hydrogen production facilities, battery storage systems and electrified heat production facilities with the aim of promoting carbon neutral industries in the short and medium term.

"With using this collaborating experience in GTCC projects, we will jointly develop and deploy the necessary hydrogen infrastructure, battery energy storage systems, and electrified heat production systems to decarbonize the power and industrial sectors," said Mitsubishi Power President and CEO Ken Kawai.