Osaka Gas Enters Footprint in US’ RE Space; Invests in SolAmerica

Osaka Gas USA (OGUSA), an arm of Osaka Gas Co., has agreed to invest in SolAmerica Energy, US-based distributed solar energy project developer and EPC provider.

Solar

This joint venture will mark the company’s first investment in the US renewable energy sector. It will also further expand it’s power portfolio in North America.

The investment will further be used by SolAmerica Energy to grow its business in both new and existing markets.

The focus of this growth will include solar-plus-storage, community solar, and commercial and industrial behind-the-meter solar projects in response to growing customer demands.

Commenting on the development, Tetsushi Ikuta, President of OGUSA, said that “OGUSA is really excited about this strategic partnership with SolAmerica Energy. We believe it will be a meaningful step for us towards our goals in the US renewable sector. OGUSA will continue our deep commitment to the US power industry in parallel with our natural gas generating business.”

SolAmerica Energy was founded in 2009 and has developed & constructed over 100 MW of solar projects across the eastern half of the United States.

Through this investment in SolAmerica, OGUSA will hold a significant, non-controlling equity interest in a newly formed joint venture (JV) company, alongside SolAmerica Energy management team and existing shareholders.

Renewable energy represents an increasing share of the U.S. power generation mix. Demand for both on-site and small utility-scale distributed solar and storage projects is expected to expand as customers and utilities increasingly benefit from these solutions.

“Our team at SolAmerica is excited about OGUSA’s investment in our business. We look forward to working with OGUSA to continue growing our solar and storage development capabilities throughout the US,” said R. Stanley Allen, Chief Executive Officer of SolAmerica Energy.

Osaka Gas, part of the Daigas Group, is focused on fostering a low-carbon society. This mission includes development and operation of renewable energy projects and expansion of its footprint in the US renewable energy space. OGUSA’s decision to partner with SolAmerica Energy aligned with its support for the transition to sustainable, low-cost energy.

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Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

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