Tokyu Railway to Launch 98MW Solar Plants: Highest Corporate PPA Adoption Rate Among Major Private Railways for 'Additional' Renewable Energy

Tokyu Railways Co., Ltd. (Tokyu Railway) will utilize Corporate PPAs to procure renewable energy and environmental value with 'additionality' for 25 years starting in FY2026. This energy will be sourced from multiple solar power plants with a total capacity of approximately 98MW-DC, newly developed at various locations in Japan by special purpose companies (SPCs) invested in by Tokyu Corporation and others. The procured electricity will be used for part of the operations on the Toyoko, Meguro, Tokyu Shin-Yokohama, Den-en-toshi, Oimachi, Ikegami, and Kodomo-no-Kuni lines.

The solar power plants developed by the SPCs will begin operation and supply sequentially from April 2026 through the end of FY2027. By FY2028, approximately 30% (roughly 110 million kWh/year) of the annual 370 million kWh used for Tokyu line operations will be covered by electricity with additional environmental value, contributing directly to the increase of new renewable energy facilities through Corporate PPAs. This represents the highest adoption ratio among major private railways in Japan.

As a first-of-its-kind initiative in Japan, Tokyu Railway has been operating all its lines with 100% renewable energy since April 2022 using renewable energy menus provided by electricity retailers. By adding this new initiative, the company aims to face environmental challenges even more directly as a major power consumer, contribute to the creation of renewable energy sources, and further its role in supporting power infrastructure.

In this initiative, Tohoku Electric Power Co., Inc., which has extensive expertise in power procurement and supply-demand operations, and Tokyu Power Supply Co., Ltd., which provides community-rooted electricity services mainly along Tokyu lines, will jointly provide the power supply.

Moving forward, the Tokyu Group and Tohoku Electric Power will seek further collaboration to promote the spread of additional renewable energy through solar power development (energy creation) and battery utilization (energy storage) using off-site Corporate PPAs, contributing to the realization of a decarbonized society.

(Notes)
*1 A contract method where power generators (owners of renewable energy sources) and power purchasers enter into a purchase agreement for renewable energy at a pre-agreed price and period.
*2 An indicator emphasized in renewable energy procurement, showing that the procurement contributes to the increase of new renewable energy facilities.
*3 FY2024 results.
*4 Based on Tokyu Railway's research (as of March 2026).
*5 Electricity for Setagaya Line station operations has been included since April 2023.
*6 Non-fossil certificates with tracking from power plants within 15 years of starting operation.

[Appendix]
Overview of this initiative:
1. Scheme
Tokyu Corporation is promoting solar power plant development in collaboration with various partner companies to stabilize the Tokyu Group's renewable energy procurement. This initiative is realized by Tokyu Power Supply and Tohoku Electric Power jointly providing Tokyu Railway with electricity and environmental value derived from solar power plants developed by the SPCs.