Puget Sound Energy has signed a joint development agreement with Mitsubishi Power Americas, Inc. to collaborate on project development and technology solutions in line with PSE's goal to become a "Beyond Net Zero Carbon" energy company by 2045.
This agreement will help enable the implementation of large scale, carbon-free renewable generation and storage into PSE's service territory while continuing to meet customer expectations for uncompromised reliability, safety and affordability. Key areas of focus for the partnership will include:
- Developing green hydrogen production, storage and transportation facilities
- Developing utility scale battery storage systems and developing hydrogen gas turbine combined cycle facilities
- Collaborating to pursue cross-sector decarbonization opportunities to create synergies between the power sector and other industrial sectors in the region, including refineries, transportation and distribution
Mitsubishi Power is a first mover in hydrogen-enabled gas turbines and long- and short-duration storage solutions. It also provides the world's first and only standard integrated green hydrogen package. The Hydaptive package optimizes 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.
Additionally, under terms of the agreement, Mitsubishi Power and Magnum Development will jointly develop green hydrogen storage assets in PSE's service territory. Mitsubishi Power and Magnum Development introduced green hydrogen storage at grid scale in May 2019 with the Advanced Clean Energy Storage Project in Delta, Utah.
In January 2021, PSE set its "Beyond Net Zero Carbon" energy company goal. PSE will target reducing its own carbon emissions to net zero and go beyond by helping other sectors to enable carbon reduction across the state of Washington.
"Our aspirational Beyond Net Zero Carbon' goal is built on the idea that we cannot get there alone," said Mary Kipp, President and CEO of PSE. "We need leading organizations like Mitsubishi Power who share our commitment to combating climate change and creating a clean energy future that benefits all of the customers and communities we serve."
Paul Browning, President and CEO of Mitsubishi Power Americas, said, "At Mitsubishi Power, our mission is to provide power generation and storage solutions to our customers, empowering them to affordably and reliably combat climate change and advance human prosperity. It is our firm belief that to achieve net zero carbon emissions by 2045, we need to develop and deploy renewable energy storage projects of all durations in the decade of the 2020s. This means lithium ion battery storage for short-duration storage, and green hydrogen for long-duration storage. We believe our customers will be the heroes in achieving net zero carbon emissions in the power sector, and we plan to support them with joint development agreements like this one with Puget Sound Energy. Working together with our customers, we will achieve a Change in Power."
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc., 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, Ltd. is 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 Puget Sound Energy
Puget Sound Energy is proud to serve our neighbors and communities in 10 Washington counties. We're the state's largest utility, supporting 1.1 million electric customers and nearly 900,000 natural gas customers. We aspire to be a "Beyond Net Zero Carbon" energy company by 2045. For more about us and what we do, visit pse.com. Also follow us on Facebook and Twitter.
Contacts
Christa Reichhardt
+1 407-484-5599
Christa.Reichhardt@amer.mhps.com
Andrew Padula
+1 888-831-7250
Andrew.Padula@pse.com
For more information
100 Colonial Center Pkwy
Lake Mary Florida
United States 32746
www.mpshq.com
