Nomura Real Estate Asset Management and Mitsubishi HC Capital Energy partnered to develop a 100MW portfolio of solar power plants to supply the real estate group under physical off-site and virtual PPAs, the companies announced on August 3, 2026.
According to the statement, the scheme will operate as a private fund with TK-GK (silent partnership) investments from Nomura Real Estate Development and the Mitsubishi HC Capital unit. MUFG Bank will provide debt financing to the vehicle and Nomura Real Estate Asset Management will handle asset management.
The fund plans to continuously acquire solar power plants installed on the rooftops of “Landport” logistics facilities developed by Nomura Real Estate, as well as ground-mounted assets that Mitsubishi HC Capital Energy will newly develop and operate, and supply their output to properties the real estate group owns and manages. It plans to invest through March 2030 and operate until March 2050.
Nomura Real Estate’s partnership with the Mitsubishi HC Capital unit expands the company’s efforts to co-invest in renewables for intra-group use. It follows a similar tie-up with Clean Energy Connect to build about 550 small-scale solar power plants. The real estate group also signed standalone PPAs, including deals for 1.8MWDC of agrisolar assets on tea farms and the under-construction 7.5MW Higashi-Izu Furusato wind project.
Mitsubishi HC Capital Energy owned a 768MWDC operational portfolio as of the end of March 2026. While most of its fleet operates under the feed-in-tariff (FIT) scheme, the company has been expanding its non-FIT pipeline through, among other initiatives, development partnerships with Ecokaku, Nikko Construction, and Winfield Japan.
