ITOCHU Corp. has invested in the Grandview Wind Farm in Texas.
It is the first time ITOCHU invested via Overland Capital Partners LP, which is an investment fund for renewable energy power generation assets in North America.
ITOCHU also announced that Tokyo Century Corporation has engaged in capital participation in the fund and together with ITOCHU has set up a joint venture to commence the joint development of two solar power plant projects in North America.
The joint venture established by ITOCHU and Tokyo Century will take over two solar power generation assets under development by TED. One is in West Virginia and the other is Iowa. Their total power output is 256 megawatts. In the future, they will develop these assets jointly. Their total power-generation capacity is equivalent to the power consumption of about 50,000 standard U.S. households. They are expected to reduce carbon-dioxide emissions approximately 380,000 tons per year.
