
Tokyu Construction acquired a 1.7MWDC portfolio consisting of 20 low-voltage solar power plants in the Chugoku TSO area, the company announced on December 23, 2024. It plans to use the portfolio for off-site PPAs.
The acquisition was facilitated by Clean Energy Connect, a renewable developer in which Tokyu Construction invested through its TOKYU-CONST GB Innovation Fund L.P. investment fund in August 2022. Clean Energy Connect will also be in charge of the portfolio’s asset management and operation, providing such services to a third party for the first time.
While Tokyu Construction started offering on-site corporate PPAs in June 2023, this will be the first time for the company to start offering off-site PPAs.
This announcement comes a few weeks after another Tokyu Group company, Tokyu Land, announced it would be acquiring Renewable Japan to bolster its renewables business.