Shizuoka Gas & Power acquired 33.5% of Smart Blue for an undisclosed sum on September 5, 2025, it announced on September 9, 2025. The transaction marks the company’s first capital and business alliance with a renewable energy firm.
According to the statement, Shizuoka Gas & Power aims to accelerate its deployment of renewables through the partnership, in support of the 200MW target set out in the group’s 2030 vision. It plans to sell the output of Smart Blue-developed solar power plants through its retail business, primarily under its “CO2 Free” offering.
Smart Blue is a Shizuoka-based solar developer and EPC company founded in 2010. To date, it developed over 60MW of projects and built over 600 power plants with a strong focus on agrisolar. Among others, it signed a PPA with Hakuhokai Group sleeved by UPDATER, agreeing to supply the medical company with power from seven power plants totaling 2.3MW.
Shizuoka Gas & Power previously partnered on solar development with Winfield Japan and participated in multiple biomass projects including the JAPEX-led 50MW Tahara Biomass Power Plant commissioned in April 2025. It is also developing a 13MW/46.9MWh grid-scale battery storage project at its parent’s Shizuoka Branch, with plans to bring the asset online in FY2027.
