January 07, 2026 – ​Tokyo Century Corporation (President & CEO, Representative Director: Koji Fujiwara; Head Office: Chiyoda-ku, Tokyo; “Tokyo Century”) announces that, it has entered into an agreement jointly with Kyuden International Corporation (“KIC”) to acquire a 100% interest in Oriden LLC’s (“Oriden”) solar power project (“the Project”; Tokyo Century’s equity stake is 50%). Oriden, the counterparty to the agreement, is a U.S. renewable energy developer under the umbrella of the Mitsubishi Heavy Industries (“MHI”) Group. Tokyo Century’s participation in the Project follows its investment in a U.S. renewable energy fund and acquisition of development rights for solar power plants in the U.S., both announced in June 2024. With the new Project, Tokyo Century will further accelerate the expansion of its renewable energy business in the United States.

The Project involves the construction of a solar power plant with a generation capacity of approximately 20 MW in Pennsylvania, U.S., with commercial operation scheduled to begin in October 2026. Once the power plant goes online, Tokyo Century will operate it with its co-investor, KIC. Tokyo Century anticipates long-term and stable revenue from the Project, as a 20-year power sales agreement (PPA) with Philadelphia Energy Authority for the plant’s entire output has already been concluded. Furthermore, it plans to enhance business profitability by utilizing the U.S. tax credit system based on the Inflation Reduction Act (IRA).

Primarily driven by the increased use of AI and the expansion of data centers, electricity demand is expected to expand continuously in the United States, with an average annual growth rate forecast at 3.4% through 2040. Renewable energy, including solar power, is positioned as a promising solution to meet this growing demand.

KIC, an energy company wholly owned by Kyushu Electric Power Company, Incorporated, has an extensive track record in overseas power generation businesses. With its participation in the Project, KIC’s total equity ownership capacity will reach approximately 2.79GW*. Oriden, based in Pennsylvania, develops, finances, constructs, owns, and operates renewable energy projects across the country. The partnership with KIC and the MHI Group, which includes Oriden, serves as an important milestone for Tokyo Century to achieve sustainable growth in the North American market. The companies will continue to discuss various possibilities for further collaboration.

December 02, 2025 – ​PHILADELPHIA – The City of Philadelphia is procuring long-term, clean, affordable electricity from a large-scale solar energy project. The 20-Megawatt (MW) Abes Run Solar project builds upon past success sourcing electricity through a power purchase agreement (PPA).

Once complete, Abes Run Solar will supply an estimated 5 percent of municipal electricity use – equivalent to six times City Hall’s annual electricity use. The PPA will supply the city with 20 years of electricity at a fixed rate.

The Philadelphia Energy Authority (PEA) holds the contract with Pittsburgh-based Oriden Power, a Mitsubishi Power Americas Company. The project locks in savings while making progress toward the goal of powering City operations with 100-percent clean and renewable electricity.

Power generated from the 92-acre project site in Clearfield County, Pa. will feed into the regional grid, offsetting higher-cost energy supplies and qualifying the City of Philadelphia to receive renewable energy credits through Pennsylvania’s Alternative Energy Portfolio Standard.

“My administration is committed to progress that delivers cleaner air, lower costs, and a more resilient future. With projects like Abes Run Solar, the City of Philadelphia is leading by example,” said Mayor Cherelle L. Parker. “Abes Run Solar is proof that large cities like Philadelphia can achieve our sustainability and fiscal responsibility objectives. We get affordable, zero-carbon electricity for decades to come. We create good-paying jobs. And we make our city cleaner, greener, and more sustainable.”

The project will be the City’s second utility-scale PPA, building upon the success of Adams Solar, a 70-MW facility that finished construction in 2024. Added together, the projects supply renewable energy that accounts for roughly 30 percent of municipal electricity needs.

Abes Run Solar is part of a multi-year sustainable operations strategy, laid out in the Municipal Energy Master Plan. By 2030, the City plans to achieve a 50-percent reduction in built environment carbon emissions and 20-percent reduction in building-sector energy use – on top of the goal of sourcing 100-percent renewable electricity – all while reducing or maintaining City operating costs.

“This project meets all our goals: delivering 20-Megawatts of clean and green energy for the city, bringing us closer to our goal of 100 percent zero-carbon renewable electricity, while providing a fixed-rate price hedge for 20 years,” said Elizabeth Lankenau, Director of the Philadelphia Office of Sustainability. “The agreed-upon price guarantee locks in affordable, zero-carbon electricity supplies and, with it, much-needed budget stability.”

The Office of Sustainability modeled future energy prices, reaching agreement on a pricing structure that delivers competitive electricity supplies at a time when growing energy consumption is forecast to drive up prices and carbon emissions across the region.

“As utility prices continue to rise, the City’s leadership on clean energy is common sense,” said Emily Schapira, CEO of the Philadelphia Energy Authority. “Solar power provides long-term financial and environmental benefits for Philadelphia. We continue to support the City to leverage all tools at our disposal to manage costs, plan for the future, and protect Philadelphians.”

“The City of Philadelphia’s investment in solar shows great leadership and ensures its energy generation needs are met sustainably and affordably. Oriden values the City of Philadelphia’s collaboration and we will execute with a focus on exceptional quality,” said Michael Berlin, COO of Oriden. “As a Pennsylvania-based developer, we take pride in our ability to leverage local partnerships within the Commonwealth. Supplying my childhood hometown with clean, affordable electricity is an added bonus.”

October 06, 2024 – ​Dunbar, PA – Mitsubishi Heavy Industries and renewable energy developer Oriden celebrated the launch of three solar farms, two of which are in Fayette County, with a ceremonial flipping of the switch last week.

Pechin Solar Farm, located in Dunbar Township, welcomed local and state officials along with members of the community to celebrate its opening.

“We have people from all over Western Pennsylvania that have been involved in this project, and we believe that just like everywhere else in the United States, we deserve clean energy here,” said Bill Miller, president and CEO of Oriden.

The event, headed by Mitsubishi, a Japanese multinational engineering company, and Oriden, a Pittsburgh-based solar development company, included tours of the farm. Representatives from the company spoke about fusion of technology and the potential economic prosperity solar energy could bring to Fayette County and surrounding areas.

Among the speakers was Laura Kuhns, executive director of Fay-Penn Economic Development Council, who spoke about the impact of solar farms in the community.

“We’re the owners of this land, which is Dunbar Township business park, and we’re thrilled to be part of this new clean and renewable energy source in Fayette County,” Kuhns said. “Solar farms create job opportunities that contribute to energy independence, and they can, in fact, be compatible with farming.”

The three farms, Pechin Solar, Grans Solar in Lake Lynn, and Listonburg Solar in Somerset county, are projected to provide 43 megawatts of power once completed. Pechin Solar and Gans Solar, both in Fayette County, will each provide nearly 14 megawatts of power The three solar farms create about 78,000 megawatts per hour of carbon-free electricity, enough to power about 7,500 homes per year. Grans Solar and Listonburg Solar are expected to be fully operational by the end of the year.

All three farms are former coal-mining sites.

Secretary of Community and Economic Development for Pennsylvania Rick Siger spoke on the importance of embracing solar technology.

“When we created our commonwealth’s 10-year economic development strategy earlier this year…we recognized that energy was a key industry sector for Pennsylvania in two ways,” he said. “It’s crucial because it’s an enabler for business to grow and thrive but it’s also a distinctive feature here in Pennsylvania for companies that are looking to locate and expand here.”

President and CEO of the American Mitsubishi Heavy Industries Sector Takajiro Ishikawa said the company signed a 30-year-lease for the farm because it believes in the future of solar technology.

“That’s how our firm flourished, by licensing (cutting edge) technology 100 years ago from America to Japan,” Ishikawa said. “Now it’s our turn to use our technology, our investments and our development capabilities to help American build a better life and a clean life at the same location.”

May 11,  2022 – ​Osaka Gas USA Corporation (“OGUSA”), a subsidiary of Osaka Gas Co., Ltd., has reached agreement with Oriden LLC (“Oriden”), a US based renewable project developer, to jointly develop a portfolio of more than 700 MWdc (600 MWac) of utility-scale solar and storage projects throughout certain US markets.

This follows OGUSA’s successful acquisition of the Brighter Future Solar Projects, a 15.7MWdc (11 MWac) solar project in North Carolina, USA, from Oriden in partnership with a Mitsubishi Heavy Industries Group company.

“We’re pleased to partner with Oriden, an experienced developer delivering tailored clean energy solutions to a broad range of customers. We hope to expand this longstanding relationship through future collaboration and contribute to the decarbonization of the US power grid,” said Sunao Okamoto, President & CEO of OGUSA.

“A collaborative approach to developing renewable energy projects is essential on the path to decarbonization. Working with OGUSA enables us to develop more utility-scale solar energy and battery energy storage projects to help customers and partners on their decarbonization journeys,” said Bill Miller, Chief Financial Officer of Oriden.

About Oriden

Located in Pittsburgh, Oriden develops, constructs, finances, owns and operates renewable energy projects throughout the United States. As local governments, public institutions and corporations prioritize cleaner sources for their energy needs, they want a developer with the ingenuity, the agility and the speed of a start-up — a fearless pioneer. But they also want to mitigate risk with a proven veteran that has the financial strength and experience to develop, commercialize, operate and own a highly complex project. Oriden is a full-service renewable energy developer funded by Mitsubishi Power Americas, Inc., an industry leader in power generation, renewables and energy storage solutions. For more information, please visit www.oridenpower.com.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

About OGUSA

OGUSA is a wholly owned subsidiary of Osaka Gas Co., Ltd., one of the largest energy utility companies in Japan, focusing on its four core businesses of power generation, shale gas development, natural gas liquefaction at Freeport LNG, and future energy development/innovation. OGUSA strives to contribute to achieving a low-carbon/carbon-neutral society by developing renewables as well as natural gas-fired power plants. For more information, please visit OSAKA GAS USA

About the Daigas Group

The Daigas Group aims to become carbon neutral by 2050. The Daigas Group set the following targets for 2030 as the milestones for the Group’s contribution to the reduction of CO2 emissions throughout society.

1. 5GW of renewables development contribution* on a global basis

2. Nearly 50% of the Group’s power portfolio in Japan consisting of renewables

3. 10 million tons/year of CO2 emissions reduction contribution

*Through its own capacity development and ownership as well as power procured from other companies.