Itochu Corp. To Invest $2 Billion in US and Canada

Itochu Corp, a Japanese trading house, said in a statement on Monday that it plans to invest around $2 billion in renewable power generation assets in the United States and Canada with partners through a special fund.

Japanese companies are investing in renewable assets abroad in order to capitalise on the rapidly growing business sector while also securing technologies critical to building a carbon-neutral economy at home.

JERA, Japan's top liquefied natural gas buyer, announced $300 million in investments in green technology-focused start-ups last week, as part of the country's efforts to achieve carbon neutrality by 2050.

Itochu announced on Monday that it would collaborate with Sumitomo Mitsui Trust Bank to provide opportunities for institutional investors, primarily from Japan, to invest in renewable energy in the United States and Canada.