Endesa and Mitsubishi Corporation agreed to commence the feasibility study on verification test project of e-mobility including:
-Introduction of Vehicle to Grid (V2G) technology and i-MiEV, the Electric Vehicle (EV).
-Building Electric Vehicles related Infrastructure.
-Functional expansion to harmonize other energy management systems.
-Study on potential deployment to other area such as EU and Latin America.
Endesa and Mitsubishi Corporation will continue to study the feasibility study until the end of March 2011. Endesa and Mitsubishi Corporation will commence the actual verification test above, upon signing Joint Implementation Agreement for proceeding the verification test.
ENDESA and Mitsubishi Corporation are keen to develop the EV and e-mobility as a means of tacking climate change and helping the companies successfully meet their sustainability and economic growth objectives while at the same time creating value for shareholders.
Endesa
Endesa is the leading electricity company in Spain, the #1 private electricity Company in Latin America and it has a solid position in the Mediterranean region, with a growing presence in various segments of the natural gas market in Spain and Portugal. The company operates in 9 countries, has 26,300 employees, 24.6 million customers and over 38,400 MW of installed capacity. The world’s seventh largest utility by enterprise value, the company owns assets valued at Euro 60 billion.
Its main business activity is the generation, transmission, distribution and supply of electricity. The company is an increasingly important operator in the natural gas sector, has significant operations in renewables, and provides various other energy-related services.
Endesa has pledged to develop a sustainable transport policy based on the EV as a key element in tackling climate change, a cornerstone of its Sustainability Strategic Plan 2008-2012. To this end, it is involved in numerous national and European projects which aim, among other objectives, to standardise, define the business model for and raise awareness of electric vehicles in society. In Spain, the company is participating in the Cenit Verde project and in the implementation of the government’s electric mobility plan (MOVELE), in addition to other projects involving the grid integration of electric vehicles such as SmartCity, DER-22@, REVE, and projects to perform research into, develop, and demonstrate EVs in Europe, such as G4V and ELVIRE.
Mitsubishi Corporation and i-MiEV
Mitsubishi Corporation (MC) is Japan’s largest general trading company, operating in 80 countries worldwide. Together with its over 560 group companies, MC employs a multinational workforce of approximately 60,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise. MC seeks to contribute to the enrichment of society through business firmly rooted in principles of fairness and integrity.
i-MiEV*1 is Mitsubishi Motors Corporation’s (MMC) new-generation electric vehicle, the “ultimate eco-car” that is at the core of the company’s environmental efforts toward a sustainable future for everyone. Driven 100 percent by electrical power, i-MiEV produces no emissions while driving*2.
As a business partner of MMC, MC has supported overseas i-MiEV activities, introducing it to national and local governments and business partners. MMC intends to back the new project through supply of Electric Vehicles.
*1: MiEV means Mitsubishi innovative Electric Vehicle.
*2: i-MiEV’s well-to-wheel CO2 emissions, when CO2 emissions produced in the generation of electrical power are included, are approximately one-third those of a gasoline-powered vehicle of similar size and power (MMC research).
Development of a sustainable transport policy based on the Electric Vehicles as a key tool for combating climate change is a cornerstone of Endesa’s Strategic Sustainability Plan 2008-2012.
In Spain, the company is involved in rolling out electric mobility projects (MOVELE project) in Madrid and Barcelona, and in the main technological initiatives (Cenit VERDE, DER22@ and REVE-Regulación Eólica con Vehículos Eléctricos projects).
