Virginia and New York are set to benefit from clean energy initiatives as US photovoltaic (PV) and storage company Summit Ridge Energy (SRE) announces its plans to construct, own, and operate over 100MW of solar projects in Virginia, along with 8MW of energy storage systems in New York. These ambitious endeavors are part of an expanded joint venture with Osaka Gas USA Corporation (OGUSA), a subsidiary of Osaka Gas, solidifying their partnership and reinforcing SRE's reputation as a trusted and reliable clean energy investment partner.
The collaboration between SRE and OGUSA marks the third and fourth joint ventures between the two companies, and signifies a significant nine-figure investment in clean energy development. By leveraging their combined expertise, SRE and OGUSA aim to advance the growth of the commercial solar industry in Virginia and tap into New York's energy storage market. This strategic move aligns with the shared vision of both companies to contribute to the decarbonization efforts and enhance the stability of the US power grid.
Steve Raeder, Chief Executive of SRE, expressed his pride in strengthening the partnership with OGUSA, emphasizing the positive impact it will have on the local economies. Raeder stated, “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.”
OGUSA's President and Chief Executive, Sunao Okamoto, echoed the sentiment of excitement for the expanded partnership and highlighted the commitment to exploring new technologies and markets. Okamoto said, “OGUSA is pleased to expand our partnership with SRE into the community solar market in Virginia and battery storage market in New York. We're eager to pursue new technologies, enter new markets, and further contribute to the decarbonization and stability of the US power grid.”
With their joint efforts, SRE and OGUSA are poised to make significant strides in renewable energy development, promote job creation, and drive economic growth in Virginia and New York. The initiatives undertaken by these two industry leaders demonstrate their unwavering dedication to building a cleaner and more sustainable future for all.
