Tokyu Corporation partnered with Global Infrastructure Management and Clean Energy Connect to develop 800 low-voltage solar plants totaling about 70MWDC for an off-site PPA powering the group’s facilities, the company announced on December 17, 2025.
According to the statement, the three companies plan to commission the plants gradually between March 2026 and March 2028 through a joint venture. Once fully operational, Tokyu expects to procure approximately 73GWh per year through the PPA, covering about 8% of the group’s annual consumption. The power will be delivered through its retail unit Tokyu Power Supply.
The scheme aims to leverage Clean Energy Connect’s experience with developing and operating low-voltage solar power plants, Global Infrastructure Management’s infrastructure investment capabilities, and Tokyu’s power retail and infrastructure operation know-how. It follows Tokyu’s similar arrangement with Mitsubishi HC Capital under which the companies agreed to jointly develop 20MW of solar capacity to supply the former’s facilities.
The deal follows a growing trend of large-scale offtakers taking an increasingly active role in their energy procurement, including taking equity stakes in generation assets. Previously, among other cases, Muji retail chain operator Ryohin Keikaku established a joint venture with JERA to develop solar power plants.
