Hitachi Launches Energy Service Company Overseas

Hitachi Ltd. of Japan has expanded its energy conservation business area through energy service companies (ESCOs) overseas, mainly in Asia.

ESCOs are based on an innovative business model that offers comprehensive energy conservation services, including diagnosis, planning, design, implementation, maintenance and verification, while taking the responsibility to guarantee the energy-saving performance. Clients have the advantage that the project cost will be repaid through the cost savings generated.

With its high-level technologies and experience achieved through projects in Japan, Hitachi won its first overseas ESCO contract to introduce a cogeneration system for Hitachi Global Storage Technologies Philippines Corp., the manufacturing branch of a Hitachi-IBM joint venture, in June 2005. Through the project, the client will upgrade its refrigeration equipment and is expected to reduce its annual carbon dioxide emissions and energy consumption by about five percent. Hitachi has plans to expand its ESCO business in other Southeast Asian countries.

ESCOs have been attracting attention from Southeast Asian countries in recent years as an effective measure to promote energy conservation. The First Asia ESCO Conference was held 20-21 October, 2005 in Bangkok, Thailand.

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Posted: 2006/02/12 02:18:16 PM
Japanese version