Japanese ITOCHU invests in U.S. wind market

ITOCHU Corporation announced today that it has reached an agreement with major North American alternative investment manager and developer, Fengate Asset Management, to invest in the Prairie Switch Wind Project, which is currently under construction in Texas and will have a total generating capacity of 160 MW.

Development of the Project is underway near Houston in the US state of Texas, which has one of the most favorable wind resources in the US. A long-term corporate power purchase agreement (PPA) has been executed with Meta Platforms, Inc., and the Project will be comprised of 48 wind turbines with a generating capacity of 3.4 MW each and a total generating capacity of 160 MW. The Project is scheduled to reach commercial operation at the end of 2023. Power sale management in... ... More: Official Press Release ITOCHU

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ITOCHU, Japan, USA, Fengate Asset Management, agreement, wind power, turbine, wind farm, Texas, investment