Hitachi Exiting MHPS; MHI Will be Venture’s Sole Owner
The post Hitachi Exiting MHPS; MHI Will be Venture’s Sole Owner appeared first on POWER Magazine.
Japanese technology conglomerate Hitachi will withdraw from Mitsubishi Hitachi Power Systems (MHPS), a joint venture it established in 2014 with another power equipment giant, Mitsubishi Heavy Industries (MHI), over a dispute stemming from construction of two massive defect-ridden coal plants in South Africa.
Under a Dec. 18-announced settlement reached by MHI and Hitachi, Hitachi will pay MHI 200 billion yen ($ 1.8 billion) in March, and transfer its 35% stake in MHPS to MHI, which currently holds the remaining 65%. Hitachi will also request the Japanese Commercial Arbitration Association, the entity tasked with deciding the dispute, to immediately stop the progress of arbitration, while MHI will do the same after it receives Hitachi’s payment and shares.
The extent to which the changes will impact MHPS’s operations are unclear. Hitachi suggested it will withdraw completely from management from MHPS, though it will continue to work with MHI on maintenance services of existing thermal power plants.…
The POWER Interview: New Directions for GE Digital
The post The POWER Interview: New Directions for GE Digital appeared first on POWER Magazine.
In a recent conversation with POWER, GE Digital CEO Pat Byrne discussed why GE made key changes to the lucrative business, streamlining it to focus on four key markets, including electric utilities and power generation.
(To learn more about how digitalization is transforming the power industry, register now to attend POWER and Chemical Engineering’s upcoming Connected Plant Conference, which will be held Feb. 25–27, in Atlanta, Georgia.)
GE has been at the forefront of the innovation in the energy sector since Thomas Edison formulated the essential requirements for an electrical distribution system and formed the Electric Light Co. in 1878. Leveraging foundational technology changes that have characterized modern history, and driven by material value creation and a sustained competitive advantage, the company has shaped some of the basic machines and components that power plants house today.
That’s why it is no surprise that by the start of 2010s, the company was already contemplating how the age of industrial internet of things (IIOT) would reshape key markets.…
Ownership Shakeup at Colstrip Coal Power Plant
The post Ownership Shakeup at Colstrip Coal Power Plant appeared first on POWER Magazine.
NorthWestern Energy said it will file an application with the Montana Public Service Commission for pre-approval to acquire Puget Sound Energy’s (PSE’s) 25% interest in Colstrip Unit 4, which is a 740-MW coal-fired boiler. The price? $ 1.
“Securing more capacity for only a $ 1 investment is a unique opportunity that helps give us the time to continue transitioning to an even cleaner energy future without putting either our customers’ safety or their ability to pay their energy bills at risk,” Bob Rowe, president and CEO of Sioux Falls, South Dakota-headquartered NorthWestern Energy, said in a statement.
NorthWestern Energy serves electric and natural gas customers in three states: Montana, Nebraska, and South Dakota. In what appeared to be an effort to fend off criticism for adding more coal-fired generation to its portfolio, NorthWestern also announced it is committing to reduce carbon intensity of its energy generation in Montana by 90% by 2045.…