Osaka Gas USA Corporation (“OGUSA”), a subsidiary of Osaka Gas Co., Ltd., has entered into a joint venture with Summit Ridge Energy, LLC (“SRE”), a US based distributed solar power developer, to construct, own and operate more than 120 MW of distributed solar power projects throughout the state of Maine. The projects will provide low cost clean energy to local residential and commercial customers through the state’s Net Energy Billing program.
This marks OGUSA’s first project level investment in the US renewables space, following its platform investment in SolAmerica Energy1, a distributed solar power developer in Georgia, US.
Since its founding in 2016, SRE has become the country’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. In the last 18 months alone, SRE has developed over 150 MW across Illinois, multiple US markets. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.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 contribution2 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
1Announed in an article, “Osaka Gas USA to invest in US solar project developer, SolAmerica Energy” dated March 12, 2020.
2Through its own capacity development and ownership as