Mitsubishi Heavy Industries and Reykjavik Energy (Iceland's largest geothermal developer; Orkuveita Reykjavikur or OR) have signed a memorandum of understanding (MoU) in Tokyo on cooperation in exploiting geothermal development opportunities around the world.

OR is already looking into geothermal energy promotion globally, and has begun development activities in Africa, and other regions of the world. Through the MoU, MHI is going to participate in OR's global geothermal initiative, by supplying geothermal equipment and jointly exploring geothermal potential worldwide. Some activities include identification and verification of geothermal potential, project launch support, equipment, power plant preparation and management.

One of the key areas of collaboration will also be geothermal development on Iceland, but also synthetic and alternative fuel production for the tranportation sector. Iceland is aiming to become a "zero emission" society by 2050.

MHI is alreadu involved in clean energy collaboration on Iceland, through an MoU signed with the Icelandic government in 2008, for collaboration on studies on dimethyl ether production from gas, and establishment of EV verification testing infrastructure.

MHI has already delivered 13 geothermal plants to OR on Iceland, over the past twenty years.

[source: MHI]