egg Power and Tokyo Century Agree Strategic Investment Partnership for UK Solar and Wind Projects

egg Power, Liberty Global’s clean energy infrastructure business, has signed a strategic investment agreement with infrastructure investor Tokyo Century.

Under the agreement, Tokyo Century will acquire a 50% stake in three projects within egg Power’s portfolio, representing a combined capacity of 212MW. The two companies will also explore opportunities to jointly invest in additional ready-to-build renewable energy assets across the UK and other markets.

Proceeds from the sale of the stakes in the Grange and Rag Lane solar projects and Chirmorie Wind Farm, which all have long-term PPAs in place with companies such as Virgin Media O2 and Amazon, will be reinvested into growing egg Power’s portfolio. The fresh capital adds to the £400 million of non-recourse financing secured from NatWest earlier this year to allow the continued expansion of egg Power’s portfolio of ready-to-build renewable energy projects.

Ilesh Patel who leads the egg Power business at Liberty Global, said: “The investment from such an experienced renewables investor is a strong endorsement of the value and quality of the business that egg Power is building. We are delighted to welcome Tokyo Century to the egg Power family and look forward to building on our agreements signed to create one of Europe’s leading renewable energy and storage platforms focused on the growing demand from digital infrastructure, telcos and other large energy intensive companies.

“We have a shared vision and values, and with our combined experience we will bring more solar, wind and battery projects online, strengthening energy resilience in our markets while delivering economic benefits to communities.”

Toshihiro Nakanishi, Director at Tokyo Century, said: “We are delighted to partner with egg Power and Liberty Global on this important initiative. In line with our Medium-Term Management Plan 2030, we have identified our overseas renewable energy business as a key strategic growth area.

“By capitalizing on the insights and experience gained from our investments in solar and onshore wind power assets in the UK, Italy, and other markets, we will drive further expansion across our overseas renewable energy portfolio. We remain committed to enhancing our local operational frameworks and working alongside business partners with deep industry expertise to expand our renewable energy portfolio. In alignment with our corporate purpose, ‘Shaping Our Blue Planet,’ we will continue to contribute to the wider adoption of clean energy and the creation of a sustainable, decarbonized society.”