BAKU, Azerbaijan, May 24. ITOCHU Corporation will begin offering virtual Power Purchase Agreement (PPA) services for long-term environmental value through renewable energy to Google, Inc., via Clean Energy Connect Co., Ltd., an ITOCHU portfolio company, Trend reports with reference to the company.
In response to the increasing demand for renewable energy driven by generative AI and data center operations, ITOCHU invested in Clean Energy Connect (CEC) in November 2021. CEC currently develops and owns 1,200 non-FIT low-voltage solar power plants with a total capacity of over 100 MW, providing long-term power and environmental benefits to customers.
CEC has now signed a virtual PPA agreement with Google, with services set to commence in 2024. By 2026, approximately 72 MW (about 800 plants) of dedicated solar power capacity will be developed for Google.
ITOCHU aims to support CEC's goal of introducing around 5,000 solar power plants with additionality in Japan by FY2025, achieving a cumulative total output of 500 MW through new customer development and power management services utilizing power trading capabilities.
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