Sumitomo Corporation of Americas Diversifies into Distributed Energy with Solar and Storage Investment, Opportunity to Expand Globally [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
NASDAQ:AMEX Investor Relations:
sumitomocorp.co.jp/en/ir
Company Research
Source: Yahoo! Finance
as, "Sumitomo Corporation Group") announced today a tax equity investment in a diverse portfolio of solar photovoltaic (PV) plus battery energy storage projects, led by Pacifico Power. Sumitomo Corporation Group is expanding its Green Power Platform business* as evidenced by this investment which will be Sumitomo Corporation Group's first in distributed generation. Sumitomo Corporation Group's investment includes six projects that consist of 27 MW solar PV and 25 MWh battery storage located in Massachusetts and California , which will serve the equivalent power needs of approximately 4,000 U.S. households as well as support the transition to a more sustainable energy system. The two Massachusetts projects are designated as low-income community solar projects that have been developed under the Solar Massachusetts Renewable Target (SMART) program. These projects provide access to the benefits of renewable energy and discounted electricity rates for local subscribers, especially those
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