April 19, 2011

Itochu, Sumitomo To Invest In US Wind Project

Itochu Corp. and Sumitomo Corp. have taken roughly 20% stakes in US project The Shepherds Flat project, to build and operate one of the world's largest wind farm in Oregon, according to Nikkei. The two trading houses spent some $200 million apiece to buy their interests from General Electric Co., which previously owned a 90% stake. Google Inc. has bought a roughly 10% stake as well. These alternative-energy investments have been accelerated following the Japan's nuclear disaster.

No comments: