Marubeni Power Retail signed a framework agreement with Aeon to supply the shopping mall and supermarket operator with solar power starting from FY2025, the companies announced on October 27, 2025. They target expanding the off-site PPA capacity under the tie-up to 200MW by the end of FY2028.
According to the statement, the trading house’s power retail unit will aggregate the output of multiple solar plants owned by undisclosed companies and supply it to Aeon Group stores. Some of the generation assets will use recycled panels supplied by Marubeni’s affiliate Rexia. The agreement is one of the retailer’s initiatives to achieve net zero by 2040.
Previously, Aeon partnered with Mizuho Bank and Ecostyle to develop over 1,000 low-voltage solar plants totaling about 120MW and self-wheel their output to 50 locations. Separately, the company added 10.1MW of solar carports to seven malls under on-site PPAs with Sun Trinity, with plans to install an additional 8.8MW. Its regional subsidiaries Aeon Tohoku and Aeon Hokkaido signed multiple off-site PPAs.
Marubeni Power Retail plans to grow its renewable power supply business to about 5GW by FY2030. Japan Energy Hub’s PPA database shows the company has signed several PPAs in recent years, including a 5MW virtual deal with Tokyo Metro for the non-fossil certificates associated with the output of a small-scale hydropower plant and a physical agreement with Kennedix for 18MW of solar.
The deal ranks among the largest corporate PPA framework agreements disclosed in Japan, alongside Yanmar and SMFL Mirai Partners’ initiative to jointly develop 150MW of solar capacity for virtual PPAs, which was announced in November 2024.
