Tokyo Century Forms UK Solar JV With Downing

(RTTNews) - Tokyo Century Corp. (8439.T, TCNRF), on Tuesday said it has established a joint venture with UK-based renewable energy investment and development company Downing LLP.

The commercial operations for the plants are expected to begin sequentially between 2027 and 2028.

The joint venture will invest in and operate solar power plants in the UK, marking Tokyo Century's first entry into the construction phase of UK solar projects.

The long-term stable revenues are supported by the UK Government's Contract for Difference scheme.

The joint venture aims to build a solar power portfolio with a cumulative capacity of about 500 megawatts across roughly 10 sites by 2028, targeting pre-construction projects that have secured grid connections and permits.

Tokyo Century will jointly manage the venture, including decisions on asset acquisitions, project financing and divestments.

Tokyo Century Corp is currently trading 0.76% higher at JPY 2,127.50 on the Tokyo Stock Exchange.