AUSTIN, Texas, May 16, 2023 (GLOBE NEWSWIRE) -- EE North America, a subsidiary of European Energy, has agreed to sell a 350MW utility-scale solar project in Texas to Osaka Gas USA Corporation ("OGUSA"). The project is expected to be operational in 2025.

This transaction marks a significant milestone in EE North America commitment to leading the global transition to green energy by delivering fully integrated, commercially mature, and financially viable clean energy systems that facilitate decarbonization across a variety of industries.

Lorena Ciciriello, CEO of EE North America, underscored the importance of the agreement with OGUSA, "We take great pride in being trustworthy collaborators with our investors, financial partners, and the communities where we operate. Selling this project to OGUSA, is part of our long-term strategy for growth; and we will continue to leverage our partnerships, share our expertise, and be a leading global force in promoting the green transition."

OGUSA, which has been co-developing and operating utility-scale and distributed generation solar power plants with several U.S. power generation and renewable energy developers, has grown its renewable business pillar in the utility-scale and distributed generation market through joint ventures with multiple developers. Outside of these partnerships, OGUSA will continue to acquire mid-stage power assets throughout the U.S. as it grows its asset management business.

“We’re pleased to take over the development of this project from EE North America, an experienced developer delivering tailored clean energy solutions to a broad range of technologies. We hope to expand this longstanding relationship through future collaboration and contribute to the decarbonization of the U.S. power grid.” said Sunao Okamoto, President & CEO of OGUSA.

About EE North America

EE North America develops, finances, builds, and operates wind and solar farms and was one of the first companies in the world to introduce Power-to-X technology. Its parent company, European Energy A/S, is based in Copenhagen, Denmark, and has significant and in-depth experience in the development and deployment of renewable energy in four continents. European Energy was founded in 2004 and has a current project pipeline of 50 GW in markets across the world. For more information, please visit EuropeanEnergy.com

About OGUSA

OGUSA is a wholly owned subsidiary of Osaka Gas Co., Ltd., one of the largest energy utility companies in Japan, focusing on its four core businesses of power generation, shale gas development, natural gas liquefaction at Freeport LNG, and future energy development/innovation. OGUSA strives to contribute to achieving a low-carbon/carbon-neutral society by developing renewables as well as natural gas-fired power plants. For more information, please visit OSAKA GAS USA

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