Releases | Mitsui Acquires Spanish Photovoltaic Power Projects - MITSUI & CO., LTD.


Mitsui Acquires Spanish Photovoltaic Power Projects

Jul. 31, 2008

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Mitsui & Co., Ltd. ("Mitsui") through IPM Eagle LLP owned by Mitsui (30%) and International Power plc (70%) has acquired all the stock of photovoltaic power project companies in Spain from the Spanish engineering and power company, Abantia and Urgesneda, S.L. a Spanish power developer.

The total capacity of the projects will be 1,460KWp including the projects under construction, located in Catalonia in Spain. Based on a long term forecast, the projects utilizing tracking photovoltaic power generation system with high generation efficiency are expected to generate renewable energy sufficient to power the equivalent of 380average households* and avoid up to 950 tons of CO2 emissions per annum.

This is the first operated photovoltaic power projects for Mitsui. Mitsui will take advantage of this operation experience to participate proactively photovoltaic power projects in Europe and the other areas all over the world.
Mitsui is an active participant in the electricity generation sector internationally, with a global net generation capacity of approximately 3,770MW. This project is the first operated photovoltaic power projects for Mitsui. Recognizing the need to deliver solutions to global environmental issues, Mitsui is actively seeking involvement in the development of renewable energy projects such as wind and solar power generation.

* Converted in Japanese households

Project Summary

Project Company IPM Eagle Desarrollos Espana, S.L.
Ownership Mitsui & Co., Ltd. 30%
International Power plc 70%
Type of Business Construction, operation and maintenance of photovoltaic power plants and wholesale of electricity.
Project Site Catalonia, Spain
Generation Capacity 100KWp (operation start in 2006)
1,360KWp (expected operation in Sep 2008)
Expected Project Life 25 years from commercial operation

Photo of the Project Site

Photo of the Project Site

Project Site

Project Site

This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.


For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7596
Facsimile: +81-3-3285-9819