Message from the President

For Tokyo Century, environmental businesses fulfill our corporate social responsibility and uphold our Management Philosophy of contributing to the creation of an environmentally sound, sustainable economy and society. We have positioned these businesses as key efforts for meeting the growing needs of our customers as we provide the optimal services, such as renewable energy, for achieving a carbon-neutral society.

We have been involved in renewable energy, mainly solar power generation, since the early days of the feed-in tariff (FIT) system, and our power generation capacity has grown to a scale of approximately 1 GW. The drive to realize a carbon-neutral society continues to gather momentum in Japan and overseas, making this a business area that promises long-term growth, as various countries continue to subsidize it as a key focus of competition.

We are expanding our business scope and improving profitability, backed by our extensive track record and expertise in renewable energy. We are also steadily advancing in our growth strategy from a medium- to long-term perspective by launching initiatives in the battery storage business (grid-scale system and co-located systems), which is expected to emerge as a growth area.

While the business environment is currently undergoing significant change, such as increased output restrictions in the renewable energy generation sector, we intend to accelerate the growth of our environmental business by accumulating quality assets in Japan and overseas, diversifying renewable energy sources, and promoting initiatives in new environmental businesses through alliances with leading partners as a unique characteristic of Tokyo Century.

We achieved the following results in fiscal 2023.

In our overseas solar power generation business, in February 2024 we jointly acquired 34 operating solar power plants with a total output of 303 MW in the U.K. with Schroders Greencoat LLP, a Group company of Schroders, a leading independent asset management group in the U.K. With this project, we successfully entered the overseas market and expanded the reach of our business.

Furthermore, the Mori Binary Power plant began operations in November 2023. A joint venture with Hokkaido Electric Power Company and JFE Engineering Corporation, the binary power plant, which is attached to an existing geothermal power plant, will strengthen collaborations with the local community and contribute to sustainable power generation.

In our battery storage business, a key component of our business strategy, we are participating in two different types of projects. One involves a co-located battery storage system installed at a solar power generation plant owned and operated by Tokyo Century, while the other involves a grid-scale battery storage system that connects with the power grid to recharge and discharge electricity. Our goal in introducing this battery storage technology is to contribute to stabilizing energy supply and the grid.

These efforts have led to a number of solid results, including our debut in the overseas market, collaboration with local communities, and introduction of battery storage technology. Looking ahead, we will further promote environment-related businesses to achieve the goals of our Medium-Term Management Plan 2027 and create an environmentally sound, sustainable economy and society.