Shikoku Electric Power expands solar acquisitions and targets water surfaces

Shikoku Electric Power Company Incorporated (Shikoku EPCO) announced it had lowered the minimum capacity threshold for acquiring solar projects from 1MWAC to 500kWAC, aiming to broaden its asset portfolio. At the same time, the utility is now accepting site proposals for floating power plants through a dedicated platform on its website.

Extension of investment criteria

The company targets both operational and under-development projects located on the island of Shikoku, provided they are certified under the Feed-in-Tariff (FIT) or Feed-in-Premium (FIP) schemes. It also stated that it is open to acquiring only the generation facilities if landowners prefer to retain ownership, supported by leasing agreements.

Increased deployment of floating assets

In the floating segment, Shikoku EPCO is seeking to secure water surfaces of at least 15,000m². Its subsidiary Yonden Solar has already commissioned four floating plants with a combined capacity of 4.4MWAC in Kagawa Prefecture. Two additional projects totalling 2MWAC are under construction, while a 2MWAC facility is already operational in Ehime Prefecture.

Strengthening partnerships with Prominet Power

The company has also strengthened its presence in land-based solar through joint ventures. Since 2023, Shikoku EPCO has held stakes in three operational solar plants in 50:50 partnership with Prominet Power, a subsidiary of Tokyo Gas. These include a 70MWAC/110MWDC facility in Okayama, a 50MWAC/70MWDC plant in Hyogo, and a 27MWAC/34MWDC site acquired in 2025 in Ibaraki Prefecture.

Long-term growth targets

The expansion strategy responds to the shortage of land suitable for high and extra-high voltage solar developments. Shikoku EPCO plans to add 500MW of renewable capacity between fiscal year 2020 and fiscal year 2030, with a long-term target of 2GW by fiscal year 2050. These initiatives reflect an ongoing reallocation of assets to support the group’s energy diversification objectives.