Mitsubishi Works With Brunei Hot Stocks

Mitsubishi said Thursday that it had signed a memorandum of understanding with the Energy Ministry of Brunei to build and operate a test solar power plant in the western part of the sultanate for a three-year project starting in 2010.

Mitsubishi will transfer the needed technology, educate local staff members and shoulder the project’s total cost, estimated at 1.5 billion yen, a company spokesman said.

The tiny but wealthy nation is aiming to introduce renewable power sources to diversify its primary energy supply. There are still problems to be addressed, like developing the grid system and ensuring expertise for installation and maintenance.

Originally published by Reuters.

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