Japan's Clean Energy Connect and Nomura Real Estate Development have announced plans to establish a joint venture to develop around 550 small-scale solar power plants. The generated electricity will be supplied directly to Nomura Real Estate Development under the joint venture arrangement. The annual output is expected to reach 52.5 GWh, equivalent to about 42% of the 125.8 GWh it procured in FY2024. Clean Energy Connect will oversee development and operations, while both companies plan to jointly support Nomura’s customers in the future. The initiative follows other PPAs by Nomura Real Estate Development, including a virtual deal with JA Mitsui Energy Solutions, The Norinchukin Bank, Ryutsu Service and TEA ENERGY for agrisolar tea farm projects. Additionally, Nomura has also signed an 18 GWh per year agreement with a joint venture between wpd and GPSS for an upcoming wind project in Shizuoka.