Itochu Corporation [8001:JP], a Japanese trading company, has signed a contract to supply renewable energy to Meta Platforms [META:US] in the US and Amazon [AMZN:US] in Japan starting from 2023, as reported by Nikkei Asia on February 14. Itochu will provide wind power to Meta through the Prairie Switch Wind project located in Texas. Itochu is also an investor in the wind project which will have a capacity of 160 megawatts (MW) once it becomes operational later this year. Separately, Itochu has agreed to collaborate with Amazon on the development of 700 solar power sites in Japan, which are expected to be operational by next year. These solar power sites will supply renewable energy to Amazon’s operations in Japan.
Itochu’s renewable energy project enables Amazon and Meta to reduce their reliance on fossil fuels and accelerate their pace of green transition. In addition, Itochu plans to expand its renewable energy business and encourage more companies to use green energy, which will contribute to the growth of renewable energy in Japan and the US. The move comes as both companies aim to reduce their carbon footprints and achieve their sustainability targets. Amazon has pledged to reach net-zero carbon emissions by 2040, while Meta has set a goal of net-zero emissions for its entire value chain by 2030.