ITOCHU Corporation announced on February 15 that it has reached an agreement with Fengate Asset Management (headquartered in Toronto and Houston), a major North American investment fund, to invest in the Prairie Switch wind farm with a total capacity of 160 megawatts (MW) that Fengate is constructing in Texas, USA
The project is being developed near Houston, Texas, one of the most favorable wind regions in the United States, and has a long-term corporate power purchase agreement with Meta Platforms, a major US IT company, for a total of 160 MW, consisting of 48 General Electric (GE) wind turbines with a single unit capacity of 3.4 MW. Commercial operation is scheduled to begin at the end of 2023, and the power sales business in Texas will be conducted jointly by NAES and Tyr Energy, a subsidiary of ITOCHU Corporation.
ITOCHU has participated in six wind farms through Tyr in North America to date, and has been involved in the operation and development of more than 30 power plants. It is also in the process of developing approximately 2 gigawatts (GW) of renewable energy, mainly solar power plants, and intends to expand its renewable energy business in North America.