The solar facility is expected to come online in 2025. Credit: European Energy.

European Energy subsidiary EE North America has agreed to divest its 350MW utility-scale solar project to Osaka Gas USA (OGUSA).

Located in Texas, the solar facility is expected to come online in 2025.

EE North America CEO Lorena Ciciriello said: “We take great pride in being trustworthy collaborators with our investors, financial partners and the communities where we operate.

“Selling this project to OGUSA is part of our long-term strategy for growth; and we will continue to leverage our partnerships, share our expertise and be a leading global force in promoting the green transition.”

Financial details of the deal have not been divulged by both companies.

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OGUSA has been involved in co-developing and operating utility-scale solar power plants in the US by partnering with several power generation and renewable energy developers in the country.

It plans to continue the acquisition of mid-stage power assets throughout the US as it grows its asset management business.

OGUSA president and CEO Sunao Okamoto said: “We are pleased to take over the development of this project from EE North America, an experienced developer delivering tailored clean energy solutions to a broad range of technologies.

“We hope to expand this long-standing relationship through future collaboration and contribute to the decarbonisation of the US power grid.”