Japan’s Mitsubishi Corp. bets big on US solar with $3.9bn expansion plan

TOKYO — Japanese trading house Mitsubishi Corp. will boost its solar power generation capacity in the U.S. by 160% by 2028, Nikkei has learned, with the total project expenses expected to be around $3.9 billion. The company aims to localize more of its supply chain, taking advantage of favorable conditions for solar development in the U.S.

Soaring global electricity demand, driven by a data center boom, has intensified the race to build out power infrastructure. Solar remains a relatively cost-effective option compared to offshore wind or nuclear, and the geographic scale of the U.S. provides abundant development opportunities.