Sumitomo and CEP Solar to deliver 1.5GW of clean energy projects in Virginia
Author: PPD Team Date: 17/10/2024
Sumitomo Corporation, through its Sumitomo Corporation of Americas and Perennial Power Holdings, has partnered with CEP Solar to develop over 1.5GW of solar and battery storage assets in Virginia, US.
This joint venture will combine CEP Solar’s local expertise with Sumitomo’s project finance capabilities, accelerating the expansion of renewable energy in the region. Construction is expected to begin in late 2025.
Takuya Yoshizawa, president of Perennial Power Holdings, highlighted that the partnership enhances geographic diversity and market exposure for Perennial’s renewable energy portfolio.
Sumitomo Corporation, which aims to achieve carbon neutrality by 2050 and supply over 5GW of renewable energy by 2030, continues to strengthen its presence in the US renewable energy sector.