Itochu Corporation (Japan) announced the formation of Overland Capital Partners, a fund that will invest in renewable energy generation assets in North America (the United States and Canada).
The Fund was established in collaboration with Sumitomo Mitsui Trust Bank. The fund has received investments from Fuyo General Lease Co and Tokyu Land Corporation. Itochu will continue to seek investors and intends to use this capital to fund a renewable energy project worth around $2 billion. Tyr Energy (based in Kansas, USA), a wholly owned subsidiary of Itochu Corporation, will administer the Fund. Itochu will give institutional investors, mostly in Japan, with investment options in the renewable energy sector in partnership with Sumitomo Mitsui Trust Bank.
