On Friday, Itochu (8001.T) announced that it had entered into a long-term power supply agreement with Google (GOOGL.O) to support the tech giant’s renewable energy objectives in Japan. Under the agreement, Itochu’s portfolio company, Clean Energy Connect (CEC), will commence supplying Google with solar power starting in 2024.
By 2026, CEC aims to deliver up to 72 megawatts of solar energy to Google, as stated by the Japanese trading company in a press release. Itochu’s investment in CEC in November 2021 was driven by the increasing demand for renewable energy, particularly for powering artificial intelligence and data center operations.