ITOCHU Announces Full operation of the Caithness Shepherds Flat Wind Project, one of the World's Largest
September 25, 2012
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that an Inauguration Ceremony was held on September 22, 2012 with a participation of the concerned parties, in the State of Oregon, the United States, after the completion of the Caithness Shepherds Flat Wind Project to which ITOCHU is participating via its subsidiary Tyr Energy, together with Caithness Energy, GE Energy Financial Services, Google Inc. and Sumitomo Corporation of America. This is the second project realized jointly with GE under a “Memorandum on business collaboration concerning co-investment in renewable energy worldwide” concluded with GE in May 2010.
The Project will generate 845 megawatts of energy to supply 235,000 average US homes, and will achieve a reduction of 1.48 million tons of carbon dioxide per year, equivalent to the annual amount of carbon dioxide from approximately 260,000 passenger vehicles. Also the Project will have an annual economic impact of US $37 million for the State of Oregon.
ITOCHU positions power generation as one of the key areas of investment for the company and has been proactively expanding related businesses throughout the world. ITOCHU is set to aggressively pursue investment opportunities in the power generation area, including power generating assets utilizing renewable energy.