Tokyu Corporation partnered with solar power plant developer and equipment distributor AddedValue Inc. to develop 10MW of low-voltage solar power plants for Tokyu Group’s use by FY2026, the companies announced on July 30, 2024.
As part of the partnership, AddedValue will develop solar power plants based on Tokyu Corporation’s specifications and sell them to a special purpose vehicle (SPV) established by Tokyu Corporation. The power generated by the SPV’s power plants will then be delivered to Tokyu Group facilities including commercial buildings and hotels through the group’s power retailer Tokyu Power Supply.
The scheme’s first power plant has now been commissioned and once the entire portfolio is operational, Tokyu Corporation expects to see a 4,700t per year CO2 emission reduction.
Aiming to procure 50% of the power it consumes from renewable sources by 2030, Tokyu Corporation has also signed multiple corporate PPAs. The Japan Energy Hub CPPA module shows that among others, this February Tokyu Corporation signed a 20MW off-site PPA with a joint-venture it established with Mitsubishi HC Capital.
