ITOCHU, Google Inks Renewable Energy Power Supply Agreement
Date
5/24/2024 6:09:27 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 24. ITOCHU Corporationwill begin offering virtual Power Purchase Agreement (PPA) servicesfor long-term environmental value through renewable energy toGoogle, Inc., via Clean Energy Connect Co., Ltd., an ITOCHUportfolio company, Trend reports with reference to the company.
In response to the increasing demand for renewable energy drivenby generative AI and data center operations, ITOCHU invested inClean Energy Connect (CEC) in November 2021. CEC currently developsand owns 1,200 non-FIT low-voltage solar power plants with a totalcapacity of over 100 MW, providing long-term power andenvironmental benefits to customers.
CEC has now signed a virtual PPA agreement with Google, withservices set to commence in 2024. By 2026, approximately 72 MW(about 800 plants) of dedicated solar power capacity will bedeveloped for Google.
ITOCHU aims to support CEC's goal of introducing around 5,000solar power plants with additionality in Japan by FY2025, achievinga cumulative total output of 500 MW through new customerdevelopment and power management services utilizing power tradingcapabilities.
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