Mitsubishi Power Achieves #1 Market Share Globally in the First Quarter of 2021 According to McCoy Power Report

· No. 1 in the global gas turbine market with a 29.0% share
· 40.8% share of heavy-duty gas turbine market

YOKOHAMA, JAPAN (May 13, 2021) - Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, captured the top market share by megawatts in the first quarter of 2021 with a global gas turbine market share of 29.0% according to McCoy Power Reports data.(Note) The company also secured 40.8% share of the heavy-duty gas turbine (HDGT) market, representing single unit output of 100 megawatts (MW) and above, led by Mitsubishi Power's latest model JAC (J-Series Air-Cooled) gas turbines.

Mitsubishi Power's high market share results from its strong project execution track record, high performance, and product reliability. Mitsubishi Power has extensive experience with large gas turbines, including the F, G and J series. The G series has surpassed 5.6 million actual operating hours (AOH) with 94 units now in commercial operation. The J series has surpassed 1.3 million AOH with 46 units now in commercial operation, and has 99.6% reliability.

In the HDGT market, which is the most popular segment for combined cycle gas turbines, the JAC is the world's leading gas turbine with an efficiency greater than 64%. It meets rigid standards for reduced carbon emissions, offering the lowest emissions in its class.

Another feature boosting Mitsubishi Power's leading global status is that all heavy-duty gas turbines now ship with hydrogen capability for even deeper decarbonization. As delivered, the gas turbines are capable of operating on a mixture of up to 30% hydrogen and 70% natural gas, which can be increased to 100% hydrogen in the future.

A key contributor to Mitsubishi Power's market share is the recent order for two M701JAC gas turbines for a 1,500 MW combined cycle power plant that is under construction in Sirdarya, the Republic of Uzbekistan. This is the first large-scale independent power producer project in the country, and once installed, the turbines will be the largest and most efficient in the Commonwealth of Independent States (CIS) region. The order also underscores Mitsubishi Power's deep commitment to the CIS region.

“Mitsubishi Power continues to be recognized as both a market and industry leader, once again receiving top global market share behind the strength of the JAC,” said Ken Kawai, President and CEO of Mitsubishi Power. “We are eager to continue working with our customers and partners worldwide to lay the groundwork for a path toward a power sector that is completely carbon-neutral.”

• This is based on the McCoy Power Report in the United States, which provides detailed market research. on global power generation projects.