ITOCHU Corporation (Headquartered in Minato-ku, Tokyo: Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has made an agreement with ContourGlobal (Headquartered in London, UK), a leading international independent power producer, regarding an investment in Black Hollow Sun power plant (the Platte River Solar Power Project) (generation capacity: 324 MWdc (258 MWac), hereinafter the “Project”) currently under development in Colorado, USA.

The Project is being developed by ContourGlobal near the town of Severance (CO), an area which benefits from abundant sunlight, and is expected to be fully completed by end of 2026, providing stable power generation. Through a power purchase agreement (PPA) with a local utility company, Platte River Power Authority, it will supply renewable energy equivalent to the electricity consumption of approximately 73,000 local households once fully operational. The Project’s first phase (185 MWdc (150 MWac)) was completed and began commercial operation in October 2025. The second phase (139 MWdc (108 MWac)) is currently under construction and scheduled to be completed by the end of 2026. When both phases are operating, the project will become the largest photovoltaic installation in Northern Colorado, with an expected annual production of nearly 608 GWh of clean electricity.
ITOCHU aims to achieve post-tax profits of 30 billion yen from its North American power business as a whole, and the investment in this Project will play a key role in this.

Over the past 20 years, ITOCHU has invested in more than 35 power plants, including 15 renewable energy facilities, through its U.S. subsidiary Tyr Energy, Inc. (hereinafter “Tyr”). In 2023, Tyr established a dedicated renewable energy fund as a general partner (GP), offering attractive investment opportunities primarily to domestic institutional investors. Furthermore, Tyr’s wholly owned subsidiary Tyr Energy Development Renewables is a renewable energy developer focused on the development of renewable energy generation assets, mainly solar power plants. It has a development pipeline of around 5 GW. In addition, ITOCHU is leveraging the extensive expertise of NAES Corporation, the world’s largest independent power plant operation and maintenance service provider (a 100% subsidiary of ITOCHU), to enhance its renewable energy businesses throughout the ITOCHU Group.

Guided by its management policy “The Brand-New Deal: Profit opportunities are shifting downstream,” ITOCHU actively listens to diverse stakeholders, including markets, society, and consumers, and it is committed to strengthening its initiatives and contributions toward achieving the SDGs. Going forward, ITOCHU will continue to expand its renewable energy business and contribute to the realization of a decarbonized society and sustainable local communities.