Financial details of the transaction were not released. It is Sumitomo’s first investment in a US solar project.
"The investment in Desert Sunlight is a good representation of what Sumitomo is doing in regards to supporting a clean energy future," says Teruyuki Miyazaki, vice president, power & telecommunications business, at Sumitomo Corporation of America.
"This allows us to leverage our experience and know-how as a long-term strategic investor and work with strong partners on high-quality renewable energy projects in the advanced stages of development or construction," he adds.
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