Updated May 14, 2025, 9:25 am.: This article’s headline and second paragraph have been updated to specify the capacity is in MWAC.
Tekoma Energy, through an undisclosed special purpose company (SPC), signed an off-site PPA with Shikoku Electric Power on April 30, 2025, the HSBC-backed developer announced on May 12, 2025.
The SPC will supply the output of three solar power plants totaling 4.5MWAC being developed in the Shikoku TSO area to Shikoku EPCO, said Tekoma Energy. The utility will sell the power to Toyota Group’s bearings manufacturer JTEKT, which plans to use it at 10 of its domestic facilities.
The power plants are expected to begin commercial operation in 2026.
According to the Japan Energy Hub PPA database, this is Tekoma Energy’s first disclosed PPA. JTEKT previously announced three deals including an 11.9MW virtual PPA with PHOTON CAPITAL.
Tekoma Energy is a Tokyo-based developer founded in 2013. HSBC Asset Management acquired the company as its lead sponsor in June 2023 and in 2024, ABC Impact announced it would invest $50 million into the company, allowing it to accelerate its growth.
