North American IPP
|Hickory Run Power Plan|
In the Americas, we have made investments in power generation assets representing 7,500 MW in North America, the world’s largest electricity market, through our subsidiary Tyr Energy, Inc.
Most recently, ITOCHU started the construction of the Hickory Run Power Plant (a state-of-the art gas-fired power plant with nominal capacity of 1,000 MW located in Pennsylvania), a greenfield project developed by ITOCHU and launched in 2017, and put the plant into operation in May 2020.The Hickory Run power plant is our third new power plant in the United States. Going forward, we aim to further enhance our capabilities and realize business operations with even higher added value.
Meanwhile, in the wind power generation field, we made investments in the Kimball Wind and South Fork Wind Projects in March 2020. We are currently advancing six wind power projects as well as solar power projects, and in the solar power field, we are involved in more than 20 development projects across the United States, aiming for aggregate power generation of approximately 3,000MW. Against a backdrop of growing environmental awareness, ITOCHU will continue actively expanding initiatives in the renewable energy field.
In power plant operation and maintenance services, NAES Corporation, another U.S. subsidiary, operates around 200 power plants representing 50,000 MW of gross capacity, mainly in North America. NAES Corporation has established itself as one of the world's largest third-party service providers in this field.
NAES is working to move beyond operation and maintenance for power plants to add value to its services including the remote monitoring of transmission lines, asset management, regulatory compliance, regular inspections, and work on electrical equipment. In December 2020, NAES acquired Bay4 Energy Services, LLC, a provider of operation and maintenance management services for solar power plants, and is working to expand services related to renewable energy.
ITOCHU aims to leverage the Group capabilities such as the business investment, development and operation capabilities of Tyr Energy, Inc. and the operation and maintenance capabilities of NAES Corporation to develop distinctive business operations.