Japan’s Itochu Corporation has reached an agreement with North America-based Fengate Asset Management to invest in the 160MW Prairie Switch Wind Project.
The scheme is currently under construction in Texas, which has one of the most favourable wind resources in the US, the company said.
A long-term PPA has been executed with Meta Platforms, and the project will comprise 48 wind turbines with a generating capacity of 3.4MW each.
The development is scheduled to reach commercial operation at the end of 2023.
Power sale management in the Texas power market will be jointly handled by Itochu subsidiaries Tyr Energy and NAES Corporation.
Through a special purpose entity newly established for the development, Itochu will invest in the project together with Fengate and GE Energy Financial Services (GE EFS).
Meanwhile, Itochu has signed a solar PPA in Japan to supply Amazon.com with electricity through its subsidiary Clean Energy Connect (CEC).
Under the agreement, CEC will develop non-FIT low-pressure solar power plants (700 sites) dedicated to supply 70MW DC and 38MW AC power to Amazon in Japan by 2024.