Structural transformation of the thermal power generation systems business

「例) GTCC新設生産能力倍増」

「Engineering increased following the receipt of a large fertilizer plant order, while orders also included a CO2 capture plant in the UK. As a result, orders received amounted to ¥1,158,062 million, up ¥157,855 million, or 15.8%, from the previous consolidated fiscal year.」

「In CCUS, the Company will continue demonstration activities at the CO2 capture pilot plant newly established at Kansai Electric Power’s Himeji Second Power Station. It will also proceed with the market launch of compact CO2 capture systems that enable more efficient and less labor-intensive on-site construction and shorter construction periods. In addition, it will accelerate research and development on next-generation CO2 capture technologies with ExxonMobil.」

「To respond to these changes in the business environment, in April 2024 the Group established the GX (Green Transformation) Segment as the business division responsible for promoting the energy transition business pursued as part of its growth strategy. It reorganized energy-transition-related functions that had been spread across multiple divisions and established a structure with enhanced project management and engineering capabilities, enabling it to provide one-stop responses to customer needs and improve its capacity by making effective use of shared resources.」

「The hydrogen gas turbine, which produces no CO2, is progressing steadily in development. It already meets the CO2 emissions target values for gas turbines imposed under EU regulations from 2023 onward, and achieved 50% hydrogen co-firing in combustion tests of a large gas turbine. The Company will continue demonstration activities with the aim of commercializing hydrogen-only combustion in 2030.」

「To further accelerate energy transition, the group's growth engine, the company decided to transfer the engineering business and other operations of 三菱重工エンジニアリング㈱ through an absorption-type company split effective 1 April 2023.」

「The Company will also address CO2 capture in industries such as steel and cement, where reducing CO2 emissions is difficult and will be necessary in the near future. In addition, it will commercialize small and medium-sized capture systems for industrial plants, where demand is expected to increase, expand its lineup from large to small and medium-sized systems, and promote their wider adoption.」

「Under the medium-term business plan, “2021 Business Plan,” the Group will promote businesses in the growth areas of “energy transition” and “new areas such as mobility,” and pursue the decarbonization, electrification and intelligent transformation of its existing businesses, thereby achieving Net Zero CO2 emissions by 2040 and contributing to the realization of a carbon-neutral society.」

「By succeeding to Mitsubishi Power, Ltd.'s thermal power-generation systems business and other operations, effective 1 October 2021, the Company will be able to dynamically operate the resources of both companies on an integrated basis. This will allow it to rapidly advance in parallel the decarbonization of the thermal power-generation systems promoted by Mitsubishi Power, Ltd. and the development of hydrogen and CO2 ecosystems promoted by the Company, further accelerating the energy transition that is the Group's growth engine.」

「In the steam power business, the company is transforming the business into one centered on advanced after-sales services while aiming to commercialize its ammonia co-firing boilers under development at an early stage.」

「Going forward, the company will combine its broad range of products and technologies developed to date to pursue fields including hydrogen gas turbines that generate power using hydrogen, which emits no CO2 during combustion, the production, transportation and storage of hydrogen and ammonia, CO2 capture and conversion for utilization, and energy solutions provider businesses, thereby contributing to the realization of a carbon-neutral society in 2050.」

「The company will also accelerate efforts to realize synergies with related businesses within the group by positioning that company at the core of its energy business and utilizing the group's technologies in CCS, CCU, biomass, waste-to-energy and renewable energy.」

「In the coal-fired power generation market, the company will strengthen its services business to enable clean and economically efficient power generation by optimizing the operation of power generation facilities through digital solution services (MHPS-TOMONI®) that use IoT technology and remote monitoring, in response to needs such as reducing environmental impact.」

「In preparation for a future contraction in the coal-fired power generation business, the group will reassign personnel to its services business and change employees' job functions. It will also combine the group's expertise in manufacturing with software technologies such as AI and IoT to expand its product and service lineup and drive a transition to a total-solutions business model.」