Japanese trading house Itochu has taken on a larger role in developing large-scale solar power plants in the US.
The move comes as Itochu anticipates increased demand for solar energy in the U.S., driven partly by government subsidies. The company received state approvals for acquiring three sites in Illinois and Arkansas, with plans to construct solar plants generating a total of 330,000 kilowatts of electricity.
The electricity will be sold to Meta, the parent company of Facebook, while the properties will be sold to an investment company associated with the Lego Group.
Itochu aims to double its US solar power business to 10 million kilowatts by 2030.