Japans' Itochu partners to invest $2 billion in US, Canada renewables via fund
Mar 11,2024 | DAXTROMNSOLAR
Japanese trading house Itochu Corp announced on Saturday that it has partnered with a fund managed by a unit of Abu Dhabi Investment Authority to invest $2 billion in renewable energy projects in the United States and Canada. The funding will be provided over a five-year period starting from 2023. These investments will focus on solar, wind, and hydroelectric power projects. Itochu aims to contribute to the development of sustainable energy sources and support the global transition to a low-carbon society.
I find this partnership between Itochu and the Abu Dhabi Investment Authority fund to be a significant move towards promoting the adoption of renewable energy. With the increasing demand for sustainable energy sources, investments in solar, wind, and hydroelectric power projects will contribute to reducing reliance on fossil fuels and mitigating climate change. This collaboration not only benefits the environment but also creates opportunities for economic growth and development in the US and Canada.
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