Power and Telecom Overview
Sumitomo Corporation of America's (SCOA) Power and Telecom Business Unit conducts business in a broad range of areas in the infrastructure industry.
SCOA is mainly investing and participating “hands-on” basis in three specific areas: the renewable energy business, the conventional power business, and the telecom carrier business.
In the renewable energy business, a recent SCOA focus, SCOA is aggressively looking for opportunities in high-quality renewable energy projects in the advanced development or construction stage as a long term strategic investor.
In July 2009, the SCOA Power and Telecom Business Unit acquired participated in interest in the 120 MW Stanton Wind Project. This investment marks the fourth wind project owned by Sumitomo Corporation and the first in the U.S. Sumitomo has a strong global commitment to sustaining the environment through renewable energy and our other environmental businesses.
In addition, SCOA and developer Caithness Energy as joint owners of the world’s largest wind farm, the 845-megawatt Shepherds Flat wind project under construction near Arlington, Oregon. Sumitomo along with Google Inc. and Tyr Energy are investing approximately $500 million in the $2 billion project.
In the conventional power generation industry, SCOA through its subsidiary jointly owned with Sumitomo Corporation (SC), Perennial Power Holdings, Inc. (PPH), is focused on acquiring generation assets through acquisitions or by developing new power plants (green field). Perennial Power has the capabilities and resources to provide operation and management resources to the power plants. This combination has distinguished PPH from other investors in the power market.
PPH is a part of SC's global power generation portfolio of 5300 Megawatts.
In the telecommunications business, the SCOA Power and Telecom Business Unit has several portfolio companies, mainly regional and unique telecom companies such as Greatcall in California, PTI/IT&E in Guam, and more.