Sumitomo Corporation Group Establishes Joint Venture to Develop Renewable Energy Projects in Virginia; Expanding Over 1.5 GW of Solar Power Projects in a Key IT Infrastructure Hub and Data Center Cluster
Sumitomo Group has formed a joint venture with CEP Solar, to develop renewable energy projects in Virginia. The partnership aims to commercialize a portfolio of solar and battery storage assets exceeding 1.5 GW, with construction expected to start in late 2025. This venture aligns with Virginia's Clean Economy Act, which mandates 100% clean energy by 2050, and addresses the growing demand for renewable power in the state's significant data center market.
The collaboration combines CEP's local expertise with SC Group's project finance capabilities to develop multiple projects simultaneously. This partnership enhances SC Group's ability to meet the increasing demand for renewable energy in Virginia, building on their existing projects in the Midwest and Northeastern U.S. Sumitomo aims to supply more than 5 GW of renewable energy by 2030 as part of its goal to achieve carbon neutrality in its business activities by 2050.
Il Gruppo Sumitomo ha formato una joint venture con CEP Solar per sviluppare progetti di energia rinnovabile in Virginia. La partnership mira a commercializzare un portafoglio di asset solari e di stoccaggio delle batterie superiori a 1,5 GW, con l'inizio della costruzione previsto per la fine del 2025. Questa iniziativa si allinea con il Clean Economy Act della Virginia, che richiede il 100% di energia pulita entro il 2050, e risponde alla crescente domanda di energia rinnovabile nel significativo mercato dei data center dello stato.
La collaborazione unisce l'esperienza locale di CEP con le capacità di finanziamento dei progetti del Gruppo SC per sviluppare più progetti contemporaneamente. Questa partnership migliora la capacità del Gruppo SC di soddisfare la crescente domanda di energia rinnovabile in Virginia, basandosi sui loro progetti esistenti nel Midwest e nel Nordest degli Stati Uniti. Sumitomo punta a fornire più di 5 GW di energia rinnovabile entro il 2030 come parte del suo obiettivo di raggiungere la neutralità carbonica nelle proprie attività entro il 2050.
El Grupo Sumitomo ha formado una empresa conjunta con CEP Solar para desarrollar proyectos de energía renovable en Virginia. La asociación tiene como objetivo comercializar un portafolio de activos solares y de almacenamiento de baterías que superan 1.5 GW, con la construcción prevista para comenzar a finales de 2025. Esta iniciativa se alinea con la Ley de Economía Limpia de Virginia, que establece un 100 % de energía limpia para 2050, y responde a la creciente demanda de energía renovable en el importante mercado de centros de datos del estado.
La colaboración combina la experiencia local de CEP con las capacidades de financiamiento de proyectos del Grupo SC para desarrollar múltiples proyectos simultáneamente. Esta asociación mejora la capacidad del Grupo SC para satisfacer la creciente demanda de energía renovable en Virginia, basándose en sus proyectos existentes en el Medio Oeste y el Noreste de Estados Unidos. Sumitomo tiene como objetivo proporcionar más de 5 GW de energía renovable para 2030 como parte de su meta de lograr la neutralidad de carbono en sus actividades comerciales para 2050.
스미토모 그룹은 CEP Solar와 합작투자를 통해 버지니아에서 재생 가능 에너지 프로젝트를 개발합니다. 이 파트너십은 1.5 GW를 초과하는 태양광 및 배터리 저장 자산 포트폴리오를 상업화하는 것을 목표로 하며, 건설은 2025년 말에 시작될 예정입니다. 이 사업은 버지니아의 청정 경제법과 일치하며, 2050년까지 100% 청정 에너지를 의무화하고, 주의 중요한 데이터 센터 시장에서 재생 가능한 전력의 증가하는 수요를 해결합니다.
이 협력은 CEP의 지역 전문지식과 SC 그룹의 프로젝트 금융 능력을 결합하여 여러 프로젝트를 동시에 개발하는 데 기여합니다. 이 파트너십은 SC 그룹이 버지니아에서 증가하는 재생 에너지 수요를 충족하는 능력을 향상시키며, 미드웨스트 및 미국 북동부에 있는 기존 프로젝트를 기반으로 하고 있습니다. 스미토모는 2050년까지 비즈니스 활동에서 탄소 중립을 달성하기 위한 목표의 일환으로 2030년까지 5 GW 이상의 재생 가능 에너지를 공급할 계획입니다.
Le groupe Sumitomo a formé une coentreprise avec CEP Solar pour développer des projets d'énergie renouvelable en Virginie. Le partenariat vise à commercialiser un portefeuille de plus de 1,5 GW d'actifs solaires et de stockage par batterie, la construction devant débuter à la fin de 2025. Cette initiative s'aligne sur la loi sur l'économie propre de Virginie, qui exige 100 % d'énergie propre d'ici 2050, et répond à la demande croissante d'énergie renouvelable dans le marché significatif des centres de données de l'État.
La collaboration combine l'expertise locale de CEP avec les capacités de financement de projets du groupe SC pour développer plusieurs projets simultanément. Ce partenariat améliore la capacité du groupe SC à répondre à la demande croissante d'énergie renouvelable en Virginie, en s'appuyant sur leurs projets existants dans le Midwest et le Nord-Est des États-Unis. Sumitomo vise à fournir plus de 5 GW d'énergie renouvelable d'ici 2030 dans le cadre de son objectif d'atteindre la neutralité carbone dans ses activités d'ici 2050.
Die Sumitomo-Gruppe hat ein Joint Venture mit CEP Solar gegründet, um Projekte im Bereich erneuerbare Energien in Virginia zu entwickeln. Die Partnerschaft zielt darauf ab, ein Portfolio von über 1,5 GW solarer und Batteriespeicheranlagen zu kommerzialisieren, wobei die Bauarbeiten Ende 2025 beginnen sollen. Dieses Vorhaben entspricht dem Clean Economy Act von Virginia, der eine 100%ige saubere Energieversorgung bis 2050 fordert, und trifft auf die wachsende Nachfrage nach erneuerbarer Energie in dem bedeutenden Rechenzentrumsmarkt des Bundesstaates.
Die Kooperation vereint CEPs lokale Expertise mit den Projektfinanzierungsfähigkeiten der SC-Gruppe, um mehrere Projekte gleichzeitig zu entwickeln. Diese Partnerschaft stärkt die Fähigkeit der SC-Gruppe, die steigende Nachfrage nach erneuerbaren Energien in Virginia zu decken, und baut auf ihren bestehenden Projekten im Mittleren Westen und im Nordosten der USA auf. Sumitomo hat das Ziel, bis 2030 mehr als 5 GW erneuerbare Energie bereitzustellen, um die Kohlenstoffneutralität in seinen Geschäftstätigkeiten bis 2050 zu erreichen.
- Joint venture formed to develop over 1.5 GW of solar and battery storage projects in Virginia
- Construction of renewable energy projects expected to commence in late 2025
- Partnership enhances SC Group's ability to meet growing demand for renewable energy in a key market
- Aligns with Virginia's Clean Economy Act mandating 100% clean energy by 2050
- Sumitomo aims to supply more than 5 GW of renewable energy by 2030
- None.
The Virginia Clean Economy Act of 2020 (VCEA) is transforming
The joint venture will leverage CEP's local development expertise and extensive network, combined with the strengths in project finance arrangement of the SC Group, to undertake simultaneous development of multiple projects across
"CEP's goal is to enable
"Our partnership with CEP provides Perennial with greater geographic diversity and exposure to highly attractive end markets, and further accelerates our efforts to expand renewable footprints in
To achieve carbon neutrality in its business activities by 2050, Sumitomo Corporation is working to establish businesses that serve as the foundation for a sustainable energy cycle by promoting fuel conversion, expanding renewable energy supply, and advancing CO2 capture, storage and utilization. In the renewable energy business, Sumitomo Corporation aims to supply more than 5 GW by 2030.
In
* From data published by the Loudoun County Economic Development Department
About Perennial Power
Perennial Power is a wholly-owned subsidiary of Sumitomo Corporation of Americas, established in 2002 to invest in key infrastructure projects to contribute to the development and sustainability of local economies and communities. Perennial's renewable investments and operations include seven renewable energy businesses since its first investment in the onshore wind power generation business in 2009. The foundation of Perennial's investment approach is to provide long-term contributions and inclusive solutions to stakeholders through Sumitomo's unique value proposition. www.pph-americas.com.
About CEP Solar
CEP Solar, LLC, a subsidiary of Commonwealth Energy Partners, LLC, is a clean energy company based in
www.cepsolar.com.
About Sumitomo Corporation of Americas
Established in 1952, Sumitomo Corporation of Americas (SCOA) is the largest subsidiary of Sumitomo Corporation. Headquartered in
View original content to download multimedia:https://www.prnewswire.com/news-releases/sumitomo-corporation-group-establishes-joint-venture-to-develop-renewable-energy-projects-in-virginia-expanding-over-1-5-gw-of-solar-power-projects-in-a-key-it-infrastructure-hub-and-data-center-cluster-302275651.html
SOURCE Sumitomo Corporation of Americas
FAQ
What is the capacity of the renewable energy projects Sumitomo Group plans to develop in Virginia?
When is construction expected to begin on Sumitomo's renewable energy projects in Virginia?
What is Sumitomo 's renewable energy supply goal by 2030?
How does the joint venture in Virginia align with local clean energy goals?
What is Sumitomo Group's current renewable energy capacity in the United States?
