Tokyu Construction announced on December 23 that it will enter the solar power purchase agreement (PPA) business. As part of this effort, we have acquired solar power generation facilities within the jurisdiction of Chugoku Electric Power Company and started the power generation business. In the future, we plan to provide solar energy services to customers using the external PPA model.
Solar power plant acquired by Tokyu Construction
(Source: Tokyu Construction)
The acquisition includes 20 low-voltage commercial solar power plants, with a total solar panel capacity of 1.7MW. Tokyu Construction will participate in the project as a power generation company and will supply the generated electricity to customers in need of renewable energy through an external PPA program via a retail electricity supplier.
To enter this business, the company has acquired the know-how to acquire power plants and operate the business from Clean Energy Connect, which it invested in through TOKYU-CONST GB Innovation Fund LP (managed by Global Brain). In the future, asset management and power plant operations will also be entrusted to Clean Energy Connect.
Tokyu Construction aims to become a power generation company with a power supply capacity of several dozen megawatts by combining the on-site PPAs it has previously deployed and the off-site PPAs it is currently deploying.
