Japan's Itochu to boost capacity of U.S. solar power business by 150% - Nikkei Asia
Japan's Itochu to boost capacity of U.S. solar power business by 150% - Nikkei Asia
TOKYO --Japanese trading house Itochu will spend an additional 1.2 trillion yen ($8.18 billion) to increase its solar and other renewable power generation capacity that it is involved in developing in the U.S. by 150% around 2030 to roughly 10,000 megawatts.
Itochu is currently involved in developing 27 solar farms in the U.S., which will gradually increase. The construction of wind farms will also be considered.
Related Knowledge Center: ENERGY BASICS: solar
Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.