Osaka Gas USA acquires 100% interest in a 350MWdc PV project in Texas
May 16, 2023
Osaka Gas USA Corporation (“OGUSA”), a wholly owned subsidiary of Osaka Gas Co., Ltd. has entered into an agreement with EE North America, LLC ("EE North America”), a wholly owned subsidiary of European Energy A/S, to acquire a 350MW, utility-scale solar project in Texas.
This mid-stage solar farm will have a generating capacity of 350 MWdc with an expected COD of Q3/2025. OGUSA will arrange all EPC, offtake, and financing before NTP in Q4 2023.
OGUSA has been co-developing and operating utility-scale and distributed generation solar power plants with several U.S. power generation and renewable energy developers. OGUSA has grown its renewable business pillar in the utility scale and distributed generation markets through joint ventures with multiple developers. Outside of these partnerships, OGUSA will continue to acquire mid-stage power assets throughout the US as it grows its asset management business.
"We take great pride in being trustworthy collaborators with our investors, financial partners, and the communities where we operate. Selling this project to OGUSA is part of our long-term strategy for growth, and we will continue to leverage our partnerships, share our expertise, and be a leading global force in promoting the green transition," said Lorena Ciciriello, CEO of EE North America.
“We’re pleased to take over the development of this project from EE North America, an experienced developer delivering tailored clean energy solutions to a broad range of technologies. We hope to expand this longstanding relationship through future collaboration and contribute to the decarbonization of the US power grid,” said Sunao Okamoto, President & CEO of OGUSA.
About EE North America
EE North America develops, finances, builds, and operates wind and solar farms and was one of the first companies in the world to introduce Power-to-X technology. Its parent company, European Energy A/S, is based in Copenhagen, Denmark, and has significant and in-depth experience in the development and deployment of renewable energy in four continents. European Energy A/S was founded in 2004 and has a current project pipeline of 50 GW in markets across the world. For more information, please visit EuropeanEnergy.com
OGUSA has established its three core businesses of the LNG liquefaction and export, shale gas development, and power generation so far. OGUSA strives to contribute to achieving a low carbon/carbon neutral society by developing renewables and methanation (the technology to produce synthetic methane from Hydrogen and CO2) as well as natural gas related business.
About 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 contribution3 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