Summit Ridge Energy (SRE), a community solar owner-operator based in the United States, and Osaka Gas USA (OGUSA), a Japanese energy firm, have announced an expansion of their partnership aimed at constructing, owning, and operating over 100MW of solar PV capacity in Virginia, along with the development of 8MW of energy storage systems in New York. This collaboration represents a substantial investment in renewable energy development, highlighting the companies' commitment to the sector.
The joint venture between SRE and OGUSA was initially formed in 2021 to undertake the construction, ownership, and operation of more than 120MW of community solar projects across Maine. Building on the success of their initial partnership, the companies have now decided to expand their cooperation into new markets and further promote the adoption of clean energy solutions.
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SRE, established in 2017, boasts an impressive development pipeline of over 2GW and is on track to have over 400MW of solar PV capacity operational by the end of this year. To support this ambitious growth, the company recently entered into an agreement with PV manufacturer Qcells to purchase 1.2GW of solar modules within the next four years. This strategic move will enable SRE to fulfill its development goals and contribute to the expansion of renewable energy infrastructure.
On the other hand, Osaka Gas USA continues to strengthen its presence in the US market. In collaboration with project developer Oriden, the company formed a joint venture last year to develop utility-scale solar PV and energy storage projects exceeding 700MW in capacity. Furthermore, Osaka Gas USA recently acquired a 350MW solar plant in Texas from renewables developer EE North America, further solidifying its foothold in the American renewable energy sector.
Steve Raeder, CEO of Summit Ridge Energy, expressed his enthusiasm about the extended partnership, stating, “We are proud to strengthen our relationship with OGUSA to grow the commercial solar industry in our home state of Virginia and enter New York's energy storage market. Our ongoing partnership will create new jobs across both states, generate meaningful tax revenue for the local economy, and allow more households and businesses to benefit from clean energy savings.” Raeder's statement underscores the significant economic and environmental benefits expected to arise from the collaboration between SRE and OGUSA.
By combining their expertise and resources, Summit Ridge Energy and Osaka Gas USA aim to advance renewable energy adoption, foster economic growth, and contribute to a cleaner and more sustainable future. The joint venture's focus on solar PV and energy storage projects represents a pivotal step toward achieving these objectives, further solidifying the companies' commitment to the development of renewable energy infrastructure in the United States.
