EE North America, a subsidiary of European Energy, has agreed to sell a 350MW utility-scale solar project in Texas to Osaka Gas USA Corporation ("OGUSA"). The project is expected to be operational in 2025.
This transaction marks a significant milestone in EE North America commitment to leading 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, "We take great pride in being trustworthy collaborators with our investors, financial partners, and the communities where we operate. 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 pillar 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, an experienced developer delivering tailored clean energy solutions to a broad range of technologies. We hope to expand this longstanding relationship through future collaboration and contribute to the decarbonization of the U.S. power grid.” said Sunao Okamoto, President & CEO of OGUSA.