Low Carbon Alliance Limited (LCA) and real estate investor Kajima Europe have formed a new joint venture targeting UK solar and storage.
This joint venture - named Taiyo Power and Storage Limited, with Taiyo meaning sun in Japanese – is to initially develop a portfolio of ground-mounted solar, solar and battery hybrid and standalone battery storage plants with a build-out value of £150m.
These projects are currently in the early development stage in England, Scotland and Wales, and mark Kajima’s entrance into the UK solar and battery storage market.
Outside of the UK, Kajima Europe recently acquired a 72% stake in Polish renewables developer PAD-RES as part of a joint venture with private equity firm Griffin Real Estate.
This joint venture will further develop a portfolio of development stage and shovel-ready solar and wind projects in Poland with a total combined generation capacity in excess of 500MW, providing capex and equity financing for the portfolio over the next four years.
Kajima and LCA also have a fully funded rooftop solar offer for the public and private sector.
"We believe that moving into the solar and battery storage market is not only about making a long-term investment but also about taking responsibility and supporting the Green Industrial Revolution," Chris Gill, projects & investment director at Kajima, said.