UK investment manager Downing and Japan’s Tokyo Century Corporation have announced a joint venture to acquire and develop a roughly 500MW portfolio of solar PV projects across the UK. The partnership will commit over £300 million to projects sourced from Downing’s development pipeline and third-party developers, focusing on utility scale solar assets.
The joint venture will target ready to build projects that already hold contracts for difference, with grid connection dates expected in 2027 and 2028. Tokyo Century’s Toshihiro Nakanishi cited confidence in the UK renewables market, while Downing’s Tom Williams described the deal as a strong endorsement of the sector’s fundamentals.
UK Trade Minister Chris Bryant welcomed the collaboration as evidence of the country’s clean energy ambitions under its Industrial Strategy. The deal builds on growing Japanese investment interest, following a 2025 agreement with Sumitomo Corporation targeting £7.5 billion in UK infrastructure and clean energy, reinforcing the UK’s appeal to global renewable investors.
