Japan’s Sumitomo Corp and Perennial Power Holdings Inc., a subsidiary of Sumitomo Corp. of Americas, have set up a joint venture with Virginia-based CEP Solar LLC to deliver renewable energy projects across Virginia. The companies said the JV will provide support for the state’s energy supply, in part to help with power demand from Virginia’s numerous data centers.
The partners on October 15 said they will commercialize a portfolio of solar and battery storage assets of more than 1.5 GW, with construction expected to begin in late 2025. The groups also plan to originate new projects.
Virginia is the world’s largest market for data centers. The companies said the joint venture will make use of CEP’s local development expertise and Sumitomo’s strengths in project financing to simultaneously advance multiple projects across Virginia.
“Our partnership with CEP provides Perennial with greater geographic diversity and…
