Japanese conglomerate Itochu Corporation has announced a plan to invest US$2 billion in renewable energy generation assets in the US and Canada.
The company plans to conduct a renewable energy project through this fund. The investment will be exercised through a fund established by Itochu Corporation, while the first closing was held already.
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PV Tech has reached out to Itochu Corporation for more information about this investment plan.
Previously, Itochu Corporation developed and invested in more than 30 power plants in the US, including eight investments in wind and solar assets via subsidiary Tyr Energy. It also developing about 20 solar assets with a total capacity of 2GW. Its subsidiary NAES Corporation provides operation and maintenance services for power plants, with its portfolio including about 1,400 solar power plants with a capacity of 2GW.
Apart from Itochu Corporation, Japanese energy company Inpex Corporation recently signed an agreement with Italian utility Enel SpA to buy half of Enel SpA’s Australian operation for €400 million (US$446.9 million). Not long before, Danish renewables company European Energy announced a plan to sell 49% of the stake of a 304MW solar plant in Denmark to Japanese conglomerate Mitsui.