Osaka Gas USA acquires stake in PV Solar facility developed by Mitsubishi Heavy Industries Group in the US
September 13 2021
Osaka Gas Co., Ltd., through its subsidiary Osaka Gas USA Corporation (“OGUSA”), has entered into a joint venture with Mitsubishi Heavy Industries (MHI) Group through its American subsidiary, Mitsubishi Heavy Industries America, Inc. (“MHIA”) to acquire the Brighter Future Solar Farm project; a 15.7 MWdc solar project under construction in Caldwell County, North Carolina. The newly formed joint venture has acquired the project from the project developer Oriden LLC. (“Oriden”), a fully owned subsidiary of Mitsubishi Power Americas, Inc. The project is expected to enter commercial operation by the end of 2021 and will sell 100% of its output under a 25-year PPA to Blue Ridge Energy, a member-owned electric cooperative serving northwest North Carolina.
“OGUSA is pleased to partner with MHI Group on this project and hope to expand our longstanding relationship through future collaboration. Through this investment, we look forward to providing low-cost clean energy to ratepayers in North Carolina, while continuing our transition to a greener portfolio.,” said Tetsushi Ikuta, President of OGUSA.
“Our partnership with OGUSA on the Brighter Future Solar Farm is an integral part of our investment strategy to develop opportunities in carbon reduction projects, while discovering new ways to collaborate with Japanese companies in the United States. We look forward to expanding further relationship with the Daigas Group,” said Yoshihiro Shiraiwa, President and CEO of MHIA.
Located in Pittsburgh, Oriden develops, constructs, finances, owns and operates renewable energy projects throughout the United States. As local governments, public institutions and corporations prioritize cleaner sources for their energy needs, they want a developer with the ingenuity, the agility and the speed of a start-up — a fearless pioneer. But they also want to mitigate risk with a proven veteran that has the financial strength and experience to develop, commercialize, operate and own a highly complex project. Oriden is a full-service renewable energy developer funded by Mitsubishi Power Americas, Inc., an industry leader in power generation, renewables and energy storage solutions. For more information, please visit www.oridenpower.com.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on www.spectra.mhi.com.
OGUSA focuses on its three core businesses of the Freeport LNG liquefaction project, shale gas development, and power generation. OGUSA strives to contribute to achieving a low carbon/carbon neutral society by developing renewables as well as natural gas-fired power plants.
About the Daigas Group
The Daigas Group aims to become carbon neutral by 2050. The Daigas Group set the following targets for 2030 as the milestones for the Group’s contribution to the reduction of CO2 emissions throughout society.
1. 5GW of renewables development contribution* on a global basis
2. Nearly 50% of the Group’s power portfolio in Japan consisting of renewables
3. 10 million tons/year of CO2 emissions reduction contribution
*Through its own capacity development and ownership as well as power procured from other companies.