Japan's Itochu to boost capacity of U.S. solar power business by 150%

Buffett-backed trading house to increase spending on the business by $8bn

20240810N Texas solar farm

Solar panels are seen at a solar power facility in Texas, U.S.

SHIN WATANABE, Nikkei staff writer

TOKYO --Japanese trading house Itochu will spend an additional 1.2 trillion yen ($8.18 billion) to increase its solar and other renewable power generation capacity that it is involved in developing in the U.S. by 150% around 2030 to roughly 10,000 megawatts.

Itochu is currently involved in developing 27 solar farms in the U.S., which will gradually increase. The construction of wind farms will also be considered.

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