European Energy subsidiary EE North America has agreed to divest its 350MW utility-scale solar project to Osaka Gas USA (OGUSA).
Located in Texas, the solar facility is expected to come online in 2025.
EE North America CEO Lorena Ciciriello said: “We take great pride in being trustworthy collaborators with our investors, financial partners and the communities where we operate.
“Selling this project to OGUSA is part of our long-term strategy for growth; and we will continue to leverage our partnerships, share our expertise and be a leading global force in promoting the green transition.”
Financial details of the deal have not been divulged by both companies.
The deal forms part of EE North America’s commitment to deliver clean energy systems that will help decarbonise a variety of industries.
OGUSA has been involved in co-developing and operating utility-scale solar power plants in the US by partnering with several power generation and renewable energy developers in the country.
It plans to continue the acquisition of mid-stage power assets throughout the US as it grows its asset management business.
OGUSA president and CEO Sunao Okamoto said: “We are pleased to take over the development of this project from EE North America, an experienced developer delivering tailored clean energy solutions to a broad range of technologies.
“We hope to expand this long-standing relationship through future collaboration and contribute to the decarbonisation of the US power grid.”