MHI, Osaka Gas buy 11-MW solar project in N Carolina

Sep 13, 2021 05:00 PM ET
  • Japan's Mitsubishi Heavy Industries (TYO:7011) and Osaka Gas USA Corp, part of Japanese firm Osaka Gas Co Ltd (TYO:9532), have actually gotten an undefined equity stake in an 11-MW solar project incomplete in North Carolina.
MHI, Osaka Gas buy 11-MW solar project in N Carolina
Image: Mitsubishi Heavy Industries (MHI) Group

The passion in the Brighter Future solar scheme was purchased from renewable project designer Oriden, which is part of the MHI Group and is backed by power generation as well as energy storage space solutions supplier Mitsubishi Power Americas. The value of the acquisition was kept under covers.

As soon as up and running, the solar (PV) park will can creating around 19,000 MWh of electricity each year. Its result will be sold to Blue Ridge Energy under a 25-year power purchase agreement (PPA), which will certainly sustain the electric cooperative's goal to cut by 50% its co2 (CO2) emissions by 2030 from 2005 degrees and become net-zero by 2050.

Heavy Industries America Inc (MHIA) as well as Osaka Gas USA will look after the power plant's day-to-day procedures.