US community solar owner-operator Summit Ridge Energy (SRE) and Japanese energy firm Osaka Gas USA (OGUSA) have expanded their partnership to construct, own and operate more than 100MW of solar PV in Virginia, the US.
The joint venture represents a nine-figure investment in renewables development which includes the development of 8MW of energy storage systems in New York.
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Both companies first entered into a joint venture in 2021 to construct, own and operate more than 120MW of community solar projects across the state of Maine.
Launched in 2017, SRE has a development pipeline of more than 2GW and expects to have more than 400MW of solar PV in operations by the end of the year. In order to achieve this feature, the company recently inked an agreement with PV manufacturer Qcells to buy 1.2GW of solar modules over the next four years.
Osaka Gas continues to expand its presence in the US market after forming a joint venture with project developer Oriden last year to develop utility-scale solar PV and energy storage projects with a capacity in excess of 700MW, as well as the recent acquisition of a 350MW solar plant in Texas from renewables developer EE North America.
“We are proud to strengthen our relationship with OGUSA to grow the commercial solar industry in our home state of Virginia and enter New York’s energy storage market. Our ongoing partnership will create new jobs across both states, generate meaningful tax revenue for the local economy and allow more households and businesses to benefit from clean energy savings,” said Steve Raeder, CEO at SRE.