J-POWER USA starts development of solar project
CHICAGO, April 30, 2020 /PRNewswire/ -- J-POWER USA Development Co., Ltd. ("J-POWER USA"), Solar Plus Development, Inc. ("Plus"), a subsidiary of Plus Renewable Technologies Limited, Avondale Solar, LLC ("Avondale") and AP Solar Holdings, LLC ("AP Solar"), a joint venture company between Plus and Avondale, have agreed to jointly develop Red Tailed Hawk Solar, a 350 MWac solar project located in Wharton County, TX.
This will be J-POWER USA's first renewable project in the U.S. The demand for solar power has increased in recent years with Texas having some of the best solar resources in the country in addition to its rapidly growing economy. This project is strategically located close to the load center of Houston, a high-power demand area.
J-POWER USA and its affiliate companies now have interests in 12 U.S. power generating facilities, totaling approximately 6,500 MW. "We are excited to expand our development capabilities into the renewable energy field," stated Mark Condon, President and CEO of J-POWER USA. "J-POWER USA's participation in this project will assist in providing energy to the marketplace in order to meet consumer demand for clean, affordable and reliable power," Condon continued.
Trevor Nash, CEO of AP Solar, said "We are very pleased to be working with J-POWER USA on the development of the Red-Tailed Hawk Solar project which will be well positioned to provide low cost renewable power to the Houston Zone."
About J-POWER USA
J-POWER USA is a wholly owned subsidiary of J-POWER North America Holdings Co., Ltd. which is a wholly owned subsidiary of Electric Power Development Co., Ltd. ("J-POWER") with headquarters located in Tokyo, Japan. J-POWER USA, headquartered in the greater Chicago area, has a long-term strategy to acquire, develop, finance and operate power generation facilities in North America through its team of power professionals with a proven track record of successfully developing and acquiring power projects in the IPP sector.
J-POWER stock is listed on the Tokyo Stock Exchange. In the fiscal year ending March 2019, J-POWER had revenues of US$8.1 billion and assets of approximately US$24.9 billion. With approximately 25,000 megawatts of net ownership, J-POWER is one of the world's largest independent generators of electricity, owning 97 power plants in Japan and 37 international IPP investments.
About AP Solar
AP Solar is a joint venture between Avondale Solar, LLC ("Avondale") and Plus Renewable Technologies Limited ("Plus"). AP Solar is a full service, utility-scale solar power project developer that focuses, currently, on the ERCOT market in Texas.
Plus owns operating renewable assets in China, Taiwan and the U.S. and continues to develop new projects in the United States, the United Kingdom, Italy and other Asian markets.
Avondale was founded by affiliates of Snapper Creek Energy Advisors, LLC and is a privately-held investment holding company created for the purposes of investing in utility-scale solar projects throughout the de-regulated electricity markets in the United States.
SOURCE J-POWER USA Development Co., Ltd.