ITOCHU invests in the power generation assets that generate nearly 5.2 million kilowatts via Tyr Energy, Inc., our fully owned subsidiary, in the United States which is the world’s biggest market of electric power. Against a backdrop of growing environmental awareness, ITOCHU has been actively expanding initiatives in the renewable-energy area in recent years. We established Tyr Energy Development Renewables, LLC, a photovoltaic power generation developer based in the state of Kansas in the USA that undertakes the entire process from selecting land and acquiring permits to the conclusion of electricity sale agreements and other development-related operations. It is developing more than 30 photovoltaic power stations generating a total of nearly 5 million kilowatts in places all across the United States. The plan is to continue to expand the photovoltaic power generation business. Additionally, since the early 2010s we have been committed to wind power generation and have invested in facilities totaling nearly 1.4 million kilowatts, including facilities under construction. Further, we have accumulated expertise in the area of renewable energy. We are involved in entire processes from the developmental phase and have developed two biomass power stations including the Hickory Run thermal power station which began commercial operation in May 2020. Going forward, our pursuit of high value-added business operations continues through the utilization of our development functions.
For power station services, NAES Corporation, our subsidiary, operates and maintains nearly 250 thermal power stations generating 57 million kilowatts mainly in North America. This is the world’s largest independent company operating and maintaining thermal power generation facilities. While operating and maintaining about 1,400 photovoltaic power stations collectively generating 2 million kilowatts, we also undertake similar services and build new facilities in the area of the production of renewable natural gas (RNG), hydrogen and small LNG facilities. These efforts are expanding throughout the field of renewable energy. In addition, NAES Corporation provides services such as the remote operation of power lines, asset management, industrial regulations and compliance, and construction related to regular inspections and electric equipment. It is working to ensure its services for the operation and maintenance of facilities provide high added value.
NAES Corporation’s operation, maintenance and other functions will be combined with Tyr Energy, Inc.’s development and business investment functions and the ITOCHU Group’s comprehensive capabilities will be utilized in pursuit of the development of unique businesses.