Tokyo Century, JFE form solar JV for Japanese PPA market

March 15 (Renewables Now) - Japanese firms Tokyo Century Corp (TYO:8439) and JFE Engineering Corp have established a 50/50 solar photovoltaic (PV) power joint venture (JV) focused on domestic corporate power purchase agreement (PPA) projects.

Named Urban Energy PV, the JV will own and generate solar power facilities and supply electricity to the PPA counterparties, which, in turn, will supply electricity and provide operation and maintenance (O&M) services to their customers.

The new company has already commenced developments at several sites to install solar PV systems on the roofs or premises of the customers.

Prior to this new business venture, the partners had jointly developed PV parks in seven locations across Japan, Tokyo Century noted.