The deals mark commercial solar company’s entry into Virginia market and expansion into energy storage
ARLINGTON, Va., June 26, 2023 /PRNewswire/ — Summit Ridge Energy (SRE), the nation’s leading commercial solar and energy storage company, today announced an expansion of its partnership with Osaka Gas USA Corporation (OGUSA), a subsidiary of Osaka Gas Co., Ltd. to construct, own and operate more than 100 megawatts (MW) of solar projects throughout the state of Virginia and 8 MW of energy storage systems in New York. The joint venture deals represents a nine-figure investment in clean energy development.
The deals mark the third and fourth joint ventures between SRE and OGUSA, strengthening their long term-partnership and emphasizing SRE’s status as a trusted and reliable partner to organizations seeking to invest in clean energy.
“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 the both states, generate meaningful tax revenue for the local economy and allow more households and businesses to benefit from clean energy savings,” said Steve Raeder, CEO at SRE.
“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,” said Sunao Okamoto, President & CEO of OGUSA.
OGUSA invests in energy infrastructure assets and businesses across North America and promotes renewable energy in its power business as key components for reduction of greenhouse gas.
About Summit Ridge Energy
Launched in 2017, Summit Ridge Energy is the nation’s leading commercial solar company. Through its strategic partnerships and project financing expertise, the company develops and acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. In the past five years, SRE has deployed over $1.6B USD into clean energy assets. With a development pipeline of more than 2 GW, SRE will have more than 400 MW of PV online by the end of 2023, providing solar power to approximately 50,000 homes.
OGUSA has established its three core businesses of the LNG liquefaction and export, shale gas development, and power generation so far. OGUSA strives to contribute to achieving a low carbon/carbon neutral society by developing renewables, battery storage technology, and e-methane (the technology to produce synthetic methane from Hydrogen and CO2) as well as natural gas related business.
SOURCE – PR Newswire