The JV will seek ready-to-build utility-scale solar PV projects which already have contracts for difference (CfD) deals in place.
January 14, 2026
UK investment manager Downing and Japanese financial services firm Tokyo Century Corporation will acquire and build a roughly 500MW portfolio of solar PV projects in the UK. 
The joint venture (JV) will allocate over £300 million to acquire the portfolio, the companies said, which will be drawn from Downing’s own project development pipeline and third-party developers. 
The JV will seek ready-to-build utility-scale solar PV projects which already have contracts for difference (CfD) deals in place. It will look for grid connection dates in 2027 and 2028. 
Toshihiro Nakanishi, general manager at Tokyo Century, said he was “impressed with…the UK market opportunity” for renewables. Tom Williams, head of energy & infrastructure at Downing, said the Japanese firm’s investment was a “strong endorsement of…the strength of the UK renewables market.” 
Commenting on the deal, Minister for Trade Chris Bryant said: “It’s fantastic to see UK-Japan collaboration in action…Our clean energy industry is a key part of the modern Industrial Strategy, and this significant investment demonstrates that together we can drive economic growth and support industries of the future."
This deal follows a deal in 2025, which the government signed with Japan’s Sumimoto Corporation, eyeing £7.5 billion of investment in UK infrastructure and clean energy projects. At the time, then-Minister for Investment Poppy Gustafsson said: “The UK is a top investment destination for Japanese businesses. We’re serious about clean energy as a key growth sector, and deals like this…encourage further investment into our world-leading industry.” 
Related:Anesco buys 35MW PV project, BSR secures approval for 22MW site
According to industry insiders speaking at the Clean Power 2030 Summits event in London last July, the UK remains an attractive prospect for renewable energy investors. “We see interest from our existing pool of capital [and] Asian capital, and some other international investors, who are seeing the UK as a good place to invest,” said Ingrid Edmund, senior investment director at Downing, speaking on the opening panel of last summer’s event, hosted by Solar Power Portal publisher Solar Media. 
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Will Norman
Senior Reporter, Informa
Will is a senior reporter who primarily covers the policy and geopolitics behind the energy transition, with a particular focus on manufacturing. 
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