SolAmerica to Form Equity Joint Venture with Osaka Gas

Osaka Gas USA (OGUSA), a subsidiary of Osaka Gas Co. Ltd., has agreed to invest in SolAmerica Energy, a U.S.-distributed solar energy project developer and EPC provider.

This joint venture marks OGUSA’s first investment in the U.S. renewable energy space and will expand OGUSA’s power portfolio in North America. SolAmerica Energy will use OGUSA’s investment to grow its business in both new and existing markets. The focus of this growth will include solar+storage, community solar, and commercial and industrial behind-the-meter solar projects in response to growing customer demands.

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.

“OGUSA is really excited about this strategic partnership with SolAmerica Energy,” says Tetsushi Ikuta, president of OGUSA.

“We believe it will be a meaningful step for us towards our goals in the U.S. renewable sector. OGUSA will continue our deep commitment to the U.S. power industry in parallel with our natural gas generating business,” he adds.

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

The post SolAmerica to Form Equity Joint Venture with Osaka Gas appeared first on Solar Industry.

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