Sumitomo Corporation has formed a joint venture with CEP Solar to deliver over 1.5 GW of solar and battery storage projects across Virginia, with construction beginning in late 2025. Sumitomo did not reveal its investment details.
Supporting Virginia’s clean energy goals: The projects align with the Virginia Clean Economy Act of 2020, which aims for 100 percent clean energy by 2050, and meet growing demand from Virginia’s large data center market.
Leveraging strengths: The partnership combines CEP’s local development expertise with Sumitomo’s financial and project management capabilities, expanding Sumitomo’s renewable energy footprint in the U.S.
Long-term impact: The joint venture will develop a diversified portfolio of solar and storage projects, offering economic and environmental benefits to local communities and contributing to Virginia’s clean energy transition.
Sumitomo’s renewable energy goals: Sumitomo aims to supply over 5 GW of renewable energy globally by 2030, building on its 640 MW of net owned generation capacity in the U.S., primarily from onshore wind power projects.