Itochu to launch $500m clean energy fund in North America

Japan trading house, Sumitomo Mitsui Trust aim to cash in on tax breaks

20230721 Itochu wind turbines

Itochu has invested in more than 20 solar and wind power projects in North America. (Photo courtesy of Itochu) 

TAKEHIRO HASEGAWA, Nikkei staff writer

TOKYO -- Itochu and Sumitomo Mitsui Trust Bank will launch a fund worth up to $500 million to invest in renewable energy projects in North America, as huge subsidies from the U.S. government are expected to fuel new solar and wind energy projects.

The fund will invest in solar and wind power generation projects, as well as those using hydrogen and ammonia as fuel.

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