Tyr Energy Development Renewables LLC (TED), a subsidiary of Japanese trader Itochu Corp, has finalized the development of a 333-MW solar portfolio in the United States, which has been sold to utility-scale solar developer and operator Adapture Renewables Inc.
The portfolio comprises three solar projects, with one located in Arkansas and two in Illinois, as disclosed by Itochu today.
Adapture will oversee the construction and operation of the projects, with power supply expected to commence in 2026. Once operational, the trio of solar projects is projected to generate sufficient clean energy to meet the demand of approximately 72,000 local homes.
TED's development efforts encompassed various tasks, including securing necessary permits and approvals, power plant design, equipment procurement, and the establishment of long-term power purchase agreements (PPAs).
Established in 2022, TED is actively involved in developing a portfolio of approximately 4 GW of solar power plants and storage batteries. The sale of this portfolio to Adapture, a company affiliated with the LEGO Group, was finalized in December 2023.