TOKYO (Dow Jones)--Mitsubishi Heavy Industries Ltd. (7011.TO) said Wednesday it and a German engineering firm Balcke Durr GmbH jointly won an order for two geothermal power plants from a public utility in Iceland.
The Japanese company declined to disclose the value of the order. In 2004, the pair won a contract from the same power company to build two similar geothermal power plants. The cost of designing and building the plants then was about Y5 billion.
Mitsubishi Heavy said in a statement it and Balcke will build the two 40,000-kilowatt plants for Reykjavik Energy.
Commercial operation of one of the plants will start in September 2008, and the other in November 2008.
Mitsubishi Heavy will make steam turbines, while Balcke will supply condensers and water cooling towers, it said.