Tokyu Land Corporation (Headquarters: Shibuya-ku, Tokyo, President and CEO: Tatsuaki Tanaka, “Tokyu Land” below) hereby announces that on March 26 2026, alongside its asset manager ReENE Co., Ltd. (Headquarters: Shibuya-ku, Tokyo; President and CEO: Keisuke Nishida; “ReENE” below), it has formed a joint-venture consortium called “Godo Kaisha Libra” through a joint investment by eight major Japanese corporations (Tokyu Land, IBeeT Corporation (an Itochu Corporation/Tokyo Century Group company), Fuyo General Lease Co., Ltd., Nomura Real Estate Development Co., Ltd., Maeda Corporation, Nippon Steel Kowa Real Estate Co., Ltd., Sumitomo Mitsui Trust Bank, Limited and Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.) through which it will implement six extra-high-voltage grid-scale storage battery facility projects across Japan (Total project cost: approximately 30 billion JPY; capacity: approximately 174MW; “Projects” below).
The Projects, which are scheduled to successively commence operation starting in fiscal 2027, are intended to contribute to the expanded adoption of renewable energy through the supply of balancing power sources that are currently in short supply.
The Tokyu Land Group will also leverage the insight it gains through the Projects and its grid-scale storage battery facility development efforts up to this point to continue promoting expanded investment in grid-scale storage battery facilities as it moves forward.
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