Highest Adoption Rate Among Major Private Railways! Approximately 30% of Electricity for Train Operations to Come from “Additional Renewable Energy” via Corporate PPA

Tokyu Electric Railway Co., Ltd. (hereinafter, Tokyu Electric Railway) will procure renewable energy (hereinafter, RE) derived electricity with additionality*2 and environmental value for 25 years starting from fiscal year 2026. This will come from newly developed solar power plants totaling approximately 98MW-DC across various locations in Japan, specifically for Tokyu Electric Railway, by multiple power generation joint ventures (hereinafter, the SPCs) invested in by Tokyu Corporation (hereinafter, Tokyu) and others, utilizing a corporate PPA*1 (hereinafter, this initiative). The procured electricity will be used for a portion of the power required for operations on the Tokyu Toyoko Line, Meguro Line, Tokyu Shin-Yokohama Line, Den-en-toshi Line, Oimachi Line, Ikegami Line, and Kodomonokuni Line.

The solar power plants developed by these SPCs will sequentially commence operation and supply between April 2026 and the end of fiscal year 2027. Through this initiative, by fiscal year 2028, approximately 30% (approximately 110 million kWh/year) of the approximately 370 million kWh/year*3 of electricity consumed for Tokyu Line operations will be electricity with environmental value that has additionality, directly contributing to the increase of new RE facilities, utilizing a corporate PPA. This will represent the highest adoption rate*4 among major private railways.

As Japan's first initiative, Tokyu Electric Railway has already been operating all its lines with 100% RE-derived electricity since April 2022*5, through RE menus*6 provided by retail electricity providers. In addition to this, by undertaking this initiative, Tokyu Electric Railway, as a major electricity consumer, will further address environmental concerns, contribute to the creation of RE sources, and enhance its role in supporting electricity infrastructure.

In this initiative, Tohoku Electric Power Co., Inc. (hereinafter, Tohoku Electric Power), which has a proven track record and expertise in power source procurement and supply-demand operations, and Tokyu Power Supply Co., Ltd. (hereinafter, Tokyu Power Supply), which provides electricity services rooted in local communities, primarily along the Tokyu Line, will jointly supply electricity.

Moving forward, the Tokyu Group and Tohoku Electric Power will further collaborate to promote the widespread adoption of additional RE, such as through the development of solar power generation (energy creation) and the utilization of storage batteries (energy storage) via off-site corporate PPAs, thereby contributing to the realization of a decarbonized society.

*1 A contract method where a power generator, who owns the RE source, and a power purchaser enter into a sales agreement for RE electricity at a pre-agreed price and term.

*2 An important indicator in RE procurement, indicating a contribution to the increase of new RE facilities through the procurement.

*3 Actual results for fiscal year 2024.

*4 According to Tokyu Electric Railway's research (as of March 2026).

*5 Electricity for the operation of Setagaya Line stations has been implemented since April 2023.

*6 Non-fossil certificates with tracking from power plants that have been in operation for 15 years or less.

【Attachment】

■Overview of this Initiative

1. Scheme

To realize a decarbonized society, Tokyu is promoting the development of solar power plants in collaboration with various partner companies as an energy creation initiative, aiming to stabilize RE procurement for the Tokyu Group. This initiative is realized by utilizing an off-site corporate PPA, where the SPCs, invested in by Tokyu and others, develop solar power plants, and Tokyu Power Supply and Tohoku Electric Power jointly provide the electricity and environmental value derived from these plants to Tokyu Electric Railway.

(Roles of each company)

2. Tokyu Electric Railway's Procurement Start Date

Sequentially from April 2026

3. Target Lines for this Initiative (Current Plan)

Tokyu Toyoko Line, Meguro Line, Tokyu Shin-Yokohama Line, Den-en-toshi Line, Oimachi Line, Ikegami Line, and Kodomonokuni Line

4. Development Plan for New Solar Power Plants for Tokyu Electric Railway (Installed capacity in operation at each point)

As of the beginning of fiscal year 2026: Approximately 12MW-DC

As of the end of fiscal year 2026: Approximately 60MW-DC

As of the end of fiscal year 2027: Approximately 98MW-DC

5. Estimated Power Generation (Fiscal Year 2028)

Approximately 110 million kWh/year (equivalent to approximately 30% of the approximately 370 million kWh/year*1 of electricity consumed for Tokyu Line operations)

(Reference) Contribution to CO2 emission reduction: Approximately 46,530 t-CO2 per year (estimated for fiscal year 2028)*2

(Equivalent to approximately 27,862 Japanese general households*3)

*1 Actual results for fiscal year 2023.

*2 Estimated by multiplying the estimated RE power generation developed in this initiative by the national average emission factor of 0.000423 t-CO2/kWh from the Ministry of the Environment's announced electricity business emission factors (actual results for fiscal year 2023). Does not include the correction factor for non-fossil certificates.

*3 Calculated from the CO2 emissions per household per year based on the Ministry of the Environment's "Results of the FY2023 Household Sector CO2 Emission Survey (Confirmed Value)."

■Tokyu's Environmental Vision 2030 and Environmental Vision 2040

In March 2022, the Tokyu Group formulated its "Environmental Vision 2030" aimed at realizing a decarbonized and circular society, and declared the promotion of initiatives to "create RE," including solar power generation, among the 11 actions set to achieve its goals.

In September 2025, to further promote initiatives for realizing a city in harmony with the environment, the "Environmental Vision 2040" was formulated, updating the conventional achievement targets for fiscal year 2030 to a higher level and newly setting achievement targets for fiscal years 2035 and 2040.

Environmental Vision 2040 URL: https://tokyu.disclosure.site/ja/135/

■Main Initiatives for a Decarbonized Society at Tokyu Electric Railway

1. "Energy Saving" Initiatives

・Introduction of new train models

Tokyu Electric Railway has actively introduced vehicles with high energy-saving performance. In 2018, new train models "2020 series" were introduced on the Den-en-toshi Line and "6020 series" for Oimachi Line express services. In 2019, the "3020 series" was introduced on the Meguro Line. These new train models reduce power consumption by approximately half compared to older models (8500 series) through high-efficiency drive of main motors using control devices with next-generation semiconductor elements, and the adoption of LEDs for interior lighting, headlights, and taillights. From 2025, the "6020 series" is being sequentially introduced for Oimachi Line local services.

・Driving ingenuity

On the Tokyu Line, drivers implement "eco-driving" techniques to reduce power consumption. This method involves increasing the time spent coasting (running on inertia) after reaching a certain speed, thereby reducing the time spent on power running (acceleration), which consumes more electricity. This allows for "eco-driving" without delays by utilizing natural acceleration/deceleration due to gradients and余裕時間 in the timetable.

・LED lighting

We are working to reduce power consumption by converting various lighting facilities to LED. As of March 2026, all vehicle lighting has been converted to LED, and 92% of station lighting has also been converted to LED.

・Energy saving for air conditioning and ventilation equipment with station renewals

For the renewal of Komazawa-Daigaku Station on the Den-en-toshi Line, energy saving for air conditioning and ventilation equipment has been achieved through efficient operation, even with the installation and enhancement of new equipment compared to conventional systems. This was made possible by introducing a "Cloud SCADA" system for remote monitoring and operation of air conditioning and ventilation equipment, and a "Commissioning" process to confirm, verify, and optimize performance to ensure expected environmental performance.

・Introduction of station auxiliary power supply system

Tokyu Electric Railway has adopted regenerative braking for all its vehicles, aiming to save energy by supplying electricity generated when a running train brakes (regenerative power) to other trains running nearby. At Minami-Machida Grandberry Park Station on the Den-en-toshi Line, an "auxiliary power supply system for station buildings" was introduced in 2025 to further effectively utilize regenerative power. This system allows regenerative power to be converted and used for lighting and other purposes at the station.

2. "RE Utilization" Initiatives

Starting with the Setagaya Line in 2019, all Tokyu Lines have been operating with virtually 100% RE-derived electricity since 2022, utilizing non-fossil certificates with tracking.

3. "Energy Storage" Initiatives

To strengthen BCP (Business Continuity Plan) in the event of a large-scale disaster, efficiently utilize railway power, and contribute to grid stabilization, a large-scale energy storage system (output: 2.1MW, capacity: 10MWh) is being developed at Ichigao Substation, which supplies power to the Den-en-toshi Line (scheduled to commence operation in fiscal year 2026).

■Company Overview

Company Name: Tokyu Electric Railway Co., Ltd.

Location: 8-16 Shinsen-cho, Shibuya-ku, Tokyo

Established: April 25, 2019

Business Activities: Railway business

URL: https://www.tokyu.co.jp/railway/company/

Company Name: Tokyu Corporation

Location: 5-6 Nanpeidai-cho, Shibuya-ku, Tokyo

Established: September 2, 1922

Business Activities: Real estate business, real estate sales business, other businesses

URL: https://www.tokyu.co.jp/company/

Company Name: Tokyu Power Supply Co., Ltd.

Location: Setagaya Business Square Tower, 4-10-1 Yoga, Setagaya-ku, Tokyo

Established: October 1, 2015

Business Activities: Electricity retail business, power generation business, energy solution business