Tokyu Corp. and partners to supply Tokyu Railway with 98 MW of new solar via corporate PPA

Tokyu Corp. and its partners agreed to supply Tokyu Railway with electricity from approximately 98 MW (DC) of newly built solar power plants under a 25-year corporate power purchase agreement (PPA), marking the highest adoption ratio among Japan’s major private railway operators. The solar plants, developed by multiple special purpose companies (SPCs) backed by Tokyu Corp. and other partners, will support train operations across several lines in the Tokyo metropolitan area, including the Toyoko, Meguro, Tokyu Shin-Yokohama, Den-en-toshi, Oimachi, Ikegami, and Kodomonokuni lines. Scheduled to come online in phases from April 2026 through the end of fiscal 2027, the projects aim to supply about 30% of Tokyu Railway’s annual traction power consumption—approximately 110 million kWh of 370 million kWh—by fiscal 2028. The initiative builds on Tokyu Railway’s existing 100% renewable electricity operations since April 2022 and strengthens its role in supporting power infrastructure expansion. Tohoku Electric Power Co. and Tokyu Power Supply Co. will jointly manage electricity procurement and supply under the arrangement, with plans to expand collaboration on offsite corporate PPAs, solar development, and battery storage to further decarbonization efforts.

Counterparts (4)

Offtaker

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Tokyu Railway

company

Tokyo-based railway operator managing extensive urban transit networks across Japan's Kanto region, including key lines like Tokyu Toyoko, Den-en-toshi, and Meguro. Core business is passenger rail transport with integrated real estate and commercial development along transit corridors.

parent_company

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Tokyu Corp

company

Tokyo-based railway operator and urban developer with core operations in Japan's Kanto region. Operates multiple rail lines including Tokyu Toyoko Line, Den-en-toshi Line, and Meguro Line, with extensive real estate and urban development activities along its rail corridors.

Lender

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Tokyu Power Supply Co

company

Tohoku Electric Power

company

Sendai-based Japanese utility operating over 12.5 GW of power generation capacity across thermal, nuclear, hydro, solar, and wind. Serves the Tohoku region with integrated generation, transmission, and retail operations, and expanding into renewable energy development and international partnerships.