Tokyo Century and Downing have formed a joint venture (JV) to develop solar power projects across the UK, targeting a cumulative capacity of approximately 500MW. This partnership marks Tokyo Century’s first foray into managing the full life cycle of solar power plants outside Japan, from construction through to operation. The JV will focus on pre-construction solar installations that have already secured necessary grid connections and permits, aiming to amass a portfolio distributed over roughly ten sites by 2028.
The initiatives are expected to deliver stable, long-term revenue streams through the UK’s contract for difference (CfD) scheme. This development comes as the UK Government outlines plans to expand its solar capacity significantly by 2030, as part of its strategy to achieve net-zero carbon emissions by 2050. Tokyo Century views the UK as a crucial market for expanding its renewable energy footprint internationally.
Downing, an investment and development specialist focusing on renewable energy, will bring its expertise in project development, asset management, and operational strategies within the UK and northern Europe. The collaboration will involve joint decision-making on asset acquisitions, project financing, and divestment strategies. By leveraging Downing’s established capabilities in solar asset management, Tokyo Century intends to enhance its business operations in Europe.
For Tokyo Century, this JV represents a significant step in advancing its European renewable energy strategy. The company has previously invested in high-quality operational assets across the continent. This new phase will allow Tokyo Century to actively participate in construction and development roles, broadening its scope within the renewable energy sector.
The JV aims to balance stable revenue generation with growth potential while contributing to the deployment of clean energy solutions and decarbonisation efforts. In terms of strategic significance, Tokyo Century intends to utilise this partnership to build expertise in risk management and governance related to power plant construction and operations. This is aimed at significantly boosting its international business management capabilities.
By engaging equally with Downing in managing the venture, Tokyo Century aims to accelerate the creation of a diversified portfolio that aligns with both stable earnings and growth prospects. This partnership could set a precedent for similar collaborations in the renewable energy sector, potentially influencing how international companies approach project development and asset management in the UK and beyond.