- Press Releases
September 13 (Renewables Now) - Japan’s Mitsubishi Heavy Industries (TYO:7011) and Osaka Gas USA Corp, part of Japanese company Osaka Gas Co Ltd (TYO:9532), have bought an unspecified equity stake in an 11-MW solar project under construction in North Carolina.
The interest in the Brighter Future solar scheme was purchased from renewable project developer Oriden, which is part of the MHI Group and is backed by power generation and energy storage solutions provider Mitsubishi Power Americas. The value of the acquisition was kept under wraps.
Once up and running, the photovoltaic (PV) park will be capable of producing around 19,000 MWh of electricity per year. Its output will be sold to Blue Ridge Energy under a 25-year power purchase agreement (PPA), which will support the electric cooperative’s goal to cut by 50% its carbon dioxide (CO2) emissions by 2030 from 2005 levels and become net-zero by 2050.
Heavy Industries America Inc (MHIA) and Osaka Gas USA will take care of the power plant’s day-to-day operations.