MHPS Hosts Natural Gas Power Generation Technical Conference in Lima Peru and Signs 515 MW JAC Power Deal with Gaz Energie

Lima, Peru– (July 19, 2018) There is a Change in Power happening around the world as a combination of natural gas and renewables dominate new installation activity in the power generation sector. Nowhere is this more apparent than in Latin America. In the past 25 years, natural gas power generation saw an almost three-fold increase in its share of total power generation in the region, and it is projected to grow more than 150% in the next 25 years, according to the IEEJ Outlook 2018. At the same time, a new generation of advanced class gas turbines (ACGT) has emerged as the leading natural gas power generation technology around the world.

Today, Mitsubishi Hitachi Power Systems (MHPS), the world's leading provider of advanced class gas turbines, hosted a "Change in Power" natural gas power generation technical conference in Lima, Peru. Independent Power Producers (IPP's) and other industry participants from across Latin America were on hand to discuss their experiences and showcase best practices on how to thrive in this dynamic power market.

In addition, MHPS and local power developer Gaz Energie signed an agreement to develop a 515 MW natural gas power project that will have the lowest cost of electricity and the lowest emissions of any gas power plant in Peru.

The Humay PS Project will be located in the Ica region of Peru and will leverage MHPS' industry-leading JAC gas turbine power island, featuring the largest, most reliable and most fuel efficient gas turbine in the world. The new plant will enter commercial operation in 2021.

"As we advance through project development, MHPS' financial, technical and development support has assured our team that we have a long-term partner in Humay PS. Our next step is to formalize our EPC contractor selection, with whom MHPS has agreed to consort to deliver a true turnkey project for Peru," said Miguel Saldana, Vice President of Gaz Energie.

"Power producers in Latin America are looking for best in class options to generate clean, reliable and affordable electricity," said Paul Browning, MHPS Americas President and CEO. "MHPS' innovative gas turbine technologies and digital solutions allow customers to set new standards for both efficiency and reliability. Two years ago we started talking about and preparing for the Change in Power that is happening in our industry. By listening to the needs of our customers in Latin America, we have developed the capability to be not only a technology partner, but also a financial partner and a construction partner. The Humay PS project will demonstrate all of these capabilities, and will be a showcase project for Peru and for the region."