Itochu, the Japanese conglomerate with $57.67 billion market cap, has taken a noteworthy step towards advancing renewable energy in North America by launching Overland Capital Partners, a $2 billion fund dedicated to investing in renewable energy generation assets in the region.
Backed by Japanese financial services provider Sumitomo Mitsui Trust Bank, along with Fuyo General Lease and Tokyu Land’s consent, Itochu aims to leverage its expertise in the US power sector accumulated over the past two decades.
The fund will be managed by Itochu’s subsidiary Tyr Energy, with a focus on attracting institutional investors primarily from Japan.
Sources say Itochu aims to contribute significantly to the region’s decarbonization efforts through this strategic initiative.
