ITOCHU, GE Enter Into RE Investment Collaboration Agreement

Tokyo-based ITOCHU Corp. and GE have entered into a collaboration and cooperation agreement to identify co-investment opportunities in renewable energy worldwide.

Under this agreement, GE Energy Financial Services, ITOCHU International Inc. and Tyr Energy Inc. – an independent power producer investment holding company of ITOCHU – are discussing co-investment opportunities involving wind power. This includes the 152 MW CPV Keenan II wind project in Oklahoma and another wind project in the U.S., for which ITOCHU and its affiliates are conducting due diligence.

Closing of ITOCHU's investments in the Keenan II and other wind projects is expected in the third quarter of this year. For the Keenan II project, operations and maintenance will be contracted to NAES Corp., a subsidiary of ITOCHU Corp.

SOURCE: ITOCHU Corp.

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