Tokyo Century Corporation has established a joint venture (JV) company with Downing LLP to invest in and develop solar projects in the United Kingdom. The JV will cover the full project lifecycle, including construction, ownership, and operations. The JV aims to develop a solar portfolio with a cumulative capacity of around 500 MW across approximately 10 sites by 2028.
The assets are solar projects at the pre-construction stage that have already secured grid connectivity and required permits. Moreover, they are expected to benefit from long-term, stable revenues under the UK government’s Contract for Difference scheme. Commercial operations are scheduled to begin sequentially between 2027 and 2028.
Tokyo Century Corporation and Downing LLP will collaboratively make decisions on asset acquisitions, project financing, and potential divestments. Furthermore, the JV represents an expansion of Tokyo Century Corporation’s business scope into construction and development activities, enabling it to strengthen risk management, governance for plant construction and development, and international renewable energy business capabilities. It also marks Tokyo Century Corporation’s first JV with an overseas partner in the renewable energy sector.
