In December 2010, ITOCHU took a 30% stake in two 50 megawatt Concentrating Solar Power (CSP) plants in Spain.
The amount contributed by ITOCHU totals 72 million euros, 54 million euros in the form of an investment and 18 million euros as a shareholder loan. The plants are expected to commence operation in June 2012. With Abengoa Sola, ITOCHU has concluded a General Collaboration Agreement that encompasses joint investment in the solar thermal power generation business. Under this Agreement, the two companies form a partnership for joint investment and will study the solar thermal power generation business in Europe, China, Asia, and Oceania as the ley regions for two years from December 2010.