Eurus Energy Holdings Corporation will commence the construction of a world-class mega solar power plant with a total installed capacity of 45MW in California. Its commissioning is scheduled for June 2011.

As it is Eurus Energy Group's first mega solar project in the United States, all of the photovoltaic panels for the project will be supplied by Sharp Corporation, one of the most prestigious solar system manufacturers. All of electricity generated will be sold to Pacific Gas and Electric Company - the largest electric company in California - for 20 years from the date of commissioning in accordance with a long-term electricity sales agreement signed in December 2009.

In the United States, and thirty seven states in particular, including California, the use of renewable energy sources is actively promoted through the Renewable Portfolio Standard (RPS) in addition to the amplification of federal government subsidy plan. Against this backdrop, the market for solar photovoltaic power generation is expected to grow at an annual rate of about 40% for the foreseeable future.

As Japan's largest and one of the world's leading developer of wind farms, Eurus Energy Group currently operates 1,900MW of wind farms in six countries. In 2008, Eurus Energy Group put a 1MW solar photovoltaic power plant into operation in South Korea, with an eye toward the exploding opportunities of solar electricity generation to contribute toward furtherance of its business activities and improvement of investment return, and for expectation to set a basis for the Group's development in this direction. In February 2010, Eurus Energy Group made a capital increase of 25,000 million yen through shareholders allotment to the Tokyo Electric Power Company, Incorporated ("Tokyo Electric") and Toyota Tsusho Corporation ("Toyota Tsusho") in order to strengthen its financial basis.

Tokyo Electric is committed to introduce zero-emission power sources actively as a part of its "2020 Vision". To achieve this goal, under the leadership of Eurus Energy Group will expand the use of wind, solar and other renewable energies both in Japan and overseas.

Tags: Eurus Energy Holdings Corporation