ITOCHU Announces Investment in US-Based Bay4 Energy Services, LLC

December 8, 2020

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today it has acquired all equity interests in Bay4 Energy Services, LLC (hereinafter "Bay4"), a provider of operation, maintenance and asset management services for solar power plants in the US, through its US subsidiary NAES Corporation (hereinafter "NAES").

NAES is a wholly owned subsidiary of ITOCHU and its US corporation ITOCHU International, and is the world's largest independent operation and maintenance service provider for power plants, serving some 200 power plants with total capacity of 50 GW, primarily in the United States.

Bay4 was established in 2009 as a solar power plant operation and maintenance service provider. It has since built advanced remote monitoring systems and a nationwide maintenance network, and is one of the largest independent service providers of operation, maintenance and asset management services for solar power plants covering about 1,400 sites with total capacity of 1.6 GW for major utilities, institutional investors and governmental organizations.

NAES is working to move beyond operation and maintenance for power plants and other infrastructure facilities to diversify and add value to its services including the remote monitoring of power plants and transmission lines, asset management, regulatory compliance, work on electrical equipment, engineering and consulting. Through the acquisition of Bay4, NAES will reinforce its operation, maintenance and asset management business in the fast-growing solar power generation sector in the U.S. and further expand its customer base while responding in broad terms to increasingly diverse customer needs such as ESG.

About NAES

Established in 1980. NAES provides operation and maintenance services to power plants, oil and gas, and chemical-related facilities predominantly in North America. NAES is also engaged in various services including engineering, construction management, remote operation of power plants and transmission lines, asset management, regulatory compliance, construction and maintenance work on electrical equipment, and contributes to the safety and reliability of key energy infrastructure.

About Bay4

Bay4 is one of the largest independent service providers in the US offering operation and maintenance, asset management, construction management and engineering services for solar power plants across the US without relying on the maintenance services of specific manufacturer equipment.
URL: https://bay4.com/