SolAmerica Energy, a U.S. Solar Project Developer, To Form Equity Joint Venture with Osaka Gas USA

Osaka Gas USA (OGUSA), a 100% subsidiary of Osaka Gas Co., Ltd., has agreed to invest in SolAmerica Energy, a U.S. distributed solar energy project developer and EPC provider. Founded in 2009, SolAmerica Energy has developed and constructed more than 100 MW of solar projects across the eastern half of the United States. Through its investment, OGUSA will hold a significant, non-controlling equity interest in a newly formed joint venture company, alongside SolAmerica Energy management team and existing shareholders. This joint venture marks OGUSA’s first investment in the U.S. renewable energy space and will expand OGUSA’s power portfolio in North America. SolAmerica Energy will use OGUSA’s investment to grow its business in both new and existing markets. The focus of this growth will include solar-plus-storage, community solar, and commercial and industrial behind-the-meter solar projects in response to growing customer demands.