Scottish & Southern Energy: Low Carbon Energy Deal With Mitsubishi

16th Jul 2010 10:38

LONDON (Dow Jones)--Scottish & Southern Energy PLC (SSE.LN), a U.K. energy company, said Friday it has entered into a strategic agreement with Mitsubishi Heavy Industries Ltd. (7011.TO) and Mitsubishi Power Systems Europe Ltd. to co-operate on low carbon energy developments. MAIN FACTS: -The agreement will enable the partners to explore a range of technologies including offshore wind farms, advanced technology for smart electricity grids and low carbon vehicles, carbon capture and storage and high-efficiency power generation. -Companies hope to establish joint development projects, ventures, investments and supply arrangements through this agreement. -The agreement with Mitsubishi expected to lead to up to 100 additional new, highly-skilled, engineering-based jobs being created at the Centre of Engineering Excellence in Renewable Energy in partnership with the University of Strathclyde. -Subject to the progress of the agreement, SSE and Mitsubishi intend to focus on, in the first instance, the delivery of renewable energy from offshore sites and the deployment of low carbon vehicles. -Shares at 0935 GMT up 3 pence, or 0.3%, at 1195 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 16, 2010 05:38 ET (09:38 GMT)