ITOCHU Corporation (headquartered in Minato-ku, Tokyo;
Masahiro Okafuji, President & CEO; hereinafter "ITOCHU")
announced today that an Inauguration Ceremony was held on
September 22, 2012 with a participation of the concerned
parties, in the State of Oregon, the United States, after
the completion of the Caithness Shepherds Flat Wind Project
to which ITOCHU is participating via its subsidiary Tyr
Energy, together with Caithness Energy, GE Energy Financial
Services, Google Inc. and Sumitomo Corporation of America.
This is the second project realized jointly with GE under a
"Memorandum on business collaboration concerning
co-investment in renewable energy worldwide" concluded with
GE in May 2010.
The Project will generate 845 megawatts of energy to supply
235,000 average US homes, and will achieve a reduction of
1.48 million tons of carbon dioxide per year, equivalent to
the annual amount of carbon dioxide from approximately
260,000 passenger vehicles. Also the Project will have an
annual economic impact of US $37 million for the State of
Oregon.
ITOCHU positions power generation as one of the key areas
of investment for the company and has been proactively
expanding related businesses throughout the world. ITOCHU
is set to aggressively pursue investment opportunities in
the power generation area, including power generating
assets utilizing renewable energy.
Itochu Corp is a Japan-based company mainly engaged in the trading business. Food segment produces, distributes and sells food products. Energy & Chemicals segment trades and operates in the fields of energy, chemicals and electricity. Living & Lifestyle segment operates in the fields of living materials and logistics, as well as real estate. Machinery segment engages in the infrastructure-related business, power generation and other businesses. Metals segment engages in metal mineral resource development, steel product processing, trade of iron, ore and coal, non-ferrous metals and light metals and steel products. Information & Financial segment engages in information technology (IT) solutions, mobile distribution and services in the information and communications field, as well as financial services and insurance businesses. Textile segment engages in global business in goods from textile raw materials, yarns and fabrics to clothing. Eighth segment collaborates with other segments.
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