On September 1, 2026, Diamond Generating Corporation (“DGC”) and Toho Gas Co., Ltd. 

(“Toho Gas”) entered into agreements to jointly advance the Goldfinch Solar Project (the “Project”), a utility-scale solar power project in Van Zandt County, Texas. DGC and Toho Gas will each hold a 50% interest in the Project through a jointly owned project company.

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DGC has been developing the Project independently since 2024. The Project will be constructed on an approximately 800-acre (3.2-square-kilometer) site and will have a generating capacity of 150.77 MWac (approximately 151 MW). Commercial operations are expected to begin in March 2029. Going forward, DGC and Toho Gas will jointly construct, own and operate the Project. The Project has a 15-year virtual power purchase agreement (“VPPA”) with Toyota Motor North America, Inc. (“TMNA”). Under the VPPA, renewable energy certificates and other environmental attributes generated by the Project are expected to be provided to TMNA.

 

DGC will leverage its North American capabilities in power project development, construction management, operations and maintenance, asset management and energy management to lead the construction and operation of the Project. As part of MC Energies Corporation (“MCEC”), which oversees Mitsubishi Corporation’s U.S. energy business, DGC serves as Mitsubishi Corporation’s power business platform in the Americas. In line with MCEC’s strategy to build an energy value chain centered on upstream natural gas while promoting renewable energy and low-carbon businesses, DGC is expanding its business platform around two complementary pillars, gas-fired generation and renewable energy, and the Project forms part of this broader initiative.

 

Texas is expected to experience continued growth in electricity demand, driven by the concentration of population and industry and the expansion of data centers. At the same time, companies continue to seek renewable energy procurement opportunities. Through the Project, DGC will contribute to expanding the supply of clean power in Texas while strengthening its expertise and business platform in renewable energy in the U.S. power market.