SAN FRANCISCO, June 22, 2020 /PRNewswire/ -- Solar Frontier Americas (SFA), announced it is changing its name to Idemitsu Renewables. Idemitsu Renewables is the US-based renewable energy business of Idemitsu Kosan Co.,Ltd. (Idemitsu, pronounced "ee-deh-mee-tsu"), one of the largest energy companies in Japan, following the 2019 merger of Idemitsu and Showa Shell Sekiyu K.K.
"The new name underscores Idemitsu Kosan's commitment to expanding its U.S. renewable energy business by leveraging its significant balance sheet to accelerate growth in the vibrant U.S. solar and storage sectors," said Cary Vandenberg, Managing Director of Idemitsu Renewables. "Idemitsu's strong support will hasten the growth of our independent power producer (IPP) and development business and bolster our national expansion through acquisitions of solar and storage projects, co-development partnerships, and greenfield development activities."
With offices in San Francisco and Reno, Idemitsu Renewables develops, finances, owns and operates utility-scale solar and storage projects. The company first developed and built projects in California and has expanded development on a national scale with emphasis on the western states and PJM markets. Idemitsu Renewables currently manages a multi-gigawatt portfolio in various stages of development.
"Idemitsu Kosan has a 109-year history of success and innovation with strong international expertise. Our vision today is toward a diversified and resilient energy platform that better serves the world. Renewable energy is one of our two strategic areas for growth and we have a 4-gigawatt renewable energy portfolio goal with the majority of this level coming from Idemitsu Renewables," commented Shunichi Kito, Representative Director and CEO of Idemitsu.
About Idemitsu Renewables (formerly Solar Frontier Americas)
Idemitsu Renewables, the U.S. based renewable energy subsidiary of Idemitsu Kosan Co.,Ltd, is a leading solar and energy storage developer and independent power producer. The company acquires, develops, owns, and operates utility-scale solar power generation plants and sells clean energy to help communities both economically and ecologically. With offices in California and Nevada, Idemitsu Renewables continues to develop its growing pipeline of energy projects. Learn more at http://idemitsurenewables.com/.