Tokyo Century acquires 50% stake in egg Power renewables portfolio

Tokyo Century has agreed to acquire a 50% stake in three UK renewable-energy projects owned by egg Power, the clean-energy infrastructure arm of Liberty Global.

The transaction covers the Grange and Rag Lane solar projects and the Chirmorie Wind Farm, which have a combined generation capacity of 212MW.

The projects are backed by long-term power-purchase agreements with corporate customers including Virgin Media O2 and Amazon.

Tokyo Century and egg Power will also explore opportunities to invest jointly in further ready-to-build renewable-energy projects in the UK and other markets.

The financial terms of the transaction were not disclosed.