EE North America, a subsidiary of European Energy, has agreed to sell a 350 MW utility-scale solar project in Texas to Osaka Gas USA Corp. (OGUSA). The project is expected to be operational in 2025.
This transaction emphasizes EE North America’s goal to lead the global transition to green energy by delivering fully integrated, commercially mature and financially viable clean energy systems that facilitate decarbonization across a variety of industries.
Lorena Ciciriello, CEO of EE North America, underscored the importance of the agreement with OGUSA: “Selling this project to OGUSA is part of our long-term strategy for growth; and we will continue to leverage our partnerships, share our expertise and be a leading global force in promoting the green transition.”
OGUSA, which has been co-developing and operating utility-scale and distributed generation solar power plants with several U.S. power generation and renewable energy developers, has grown its renewable business in the utility-scale and distributed generation market through joint ventures with multiple developers. Outside of these partnerships, OGUSA will continue to acquire mid-stage power assets throughout the U.S. as it grows its asset management business.
“We’re pleased to take over the development of this project from EE North America,” says Sunao Okamoto, president and CEO of OGUSA. “We hope to expand this longstanding relationship through future collaboration and contribute to the decarbonization of the U.S. power grid.”