British investment manager Downing and Japanese financial services firm Tokyo Century Corporation will acquire and build a portfolio of approximately 500 MW of solar PV projects in the UK.
The joint venture (JV) will commit more than £300 million to acquire the portfolio, the companies said, which will come from Downing’s own property development pipeline and external developers.
The JV will look for turnkey utility-scale solar PV projects for which Contracts For Difference (CfD) deals have already been secured. Dates for grid connections in 2027 and 2028 are being sought.
Toshihiro Nakanishi, managing director of Tokyo Century, said he was “impressed by the opportunities in the UK market” for renewables. Tom Williams, head of energy and infrastructure at Downing, said the Japanese company’s investment was a “strong show of support for… the strength of the UK renewable energy market.”
Commenting on the deal, Trade Secretary Chris Bryant said: “It is fantastic to see the partnership between Britain and Japan in action…Our clean energy industry is a key part of the modern industrial strategy, and this significant investment shows that together we can drive economic growth and support the industries of the future.”
This follows a 2025 deal the government signed with Japan’s Sumimoto Corporation, which saw £7.5 billion of investment in UK infrastructure and clean energy projects. At the time, then Investment Minister Poppy Gustafsson said: “The UK is a top investment destination for Japanese companies. We are serious about clean energy as a key growth sector, and deals like this… encourage further investment in our leading industry.”
According to industry insiders who spoke at the Clean Power 2030 Summits event in London last July, Britain remains an attractive prospect for renewable energy investors. “We see interest from our existing capital pool [and] Asian capital, and some other international investors, who see Britain as a good place to invest,” said Ingrid Edmund, senior investment director at Downing, during the opening panel of last summer’s event, organized by Solar energy portal publisher Solar Media.
