1GW Renewables: Japanese Duo Target Spain, Italy
Oct 12, 2023 04:05 PM ET
- Tokyu Land and Renewable Japan have joined forces to deliver 1GW of renewable energy to power Spain and Italy, with a 39.9MW solar PV park already operational. Invest in a greener future when you join this dynamic duo!
Japanese real estate developer and investor Tokyu Land Co and compatriot Renewable Japan Co have signed a joint investment agreement to develop and install 1 GW of renewable power plants across southern Europe, mainly in Spain and Italy. The partners will initially develop the projects through Renewable Japan's Spanish subsidiary RJ Development SL, as well as local companies. Tokyu Land and Renewable Japan have already acquired a 39.9-MW solar photovoltaic (PV) park in Spain’s Castilla–La Mancha region with Tokyu Land owning a 65% stake and Renewable Japan a 35% stake. The plant was brought online in June.
What Are Tokyu Land and Renewable Japan Investing in Europe?
- Tokyu Land and Renewable Japan will develop and install 1 GW of renewable power plants across southern Europe, mainly in Spain and Italy.
- The joint investment agreement is the first for Tokyu Land and Renewable Japan in Europe.
- The two companies have already acquired a 39.9-MW solar PV park in Spain’s Castilla–La Mancha region with Tokyu Land having a 65% stake and Renewable Japan a 35% stake.
- The plant was connected to the grid in June.
- The two companies will also be developing the projects through Renewable Japan's Spanish subsidiary RJ Development SL, and local companies.
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