Japan’s No. 1 gas supplier, Tokyo Gas, created on Thursday a new subsidiary to operate a 500-megawatt (MW) solar power plant it plans to acquire in the U.S., Kallanish Energy reports.
Tokyo Gas America said it’s setting up the TG Aktina Holdings and other subsidiaries to handle the 49 billion yen ($466 million) acquisition of the Aktina solar project in east Texas. The project has been developed by Hecate Energy – a renewable energy developer based in Chicago.
The solar farm will be built near Houston, with construction works scheduled to start in the third quarter of 2020. Commissioning of commercial operations will be staged, starting from mid-2021.
The electricity generated by Aktina will be sold to the Electric Reliability Council of Texas (ERCOT) wholesale market.
“This marks the first global solar project in which Tokyo Gas Group will take initiative from construction to commercial operation,” the Japanese giant said in a statement.
The acquisition, planned for next Wednesday, will increase Tokyo Gas’ renewables capacity to over 1,200 MW both in Japan and abroad.
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