Eku Energy launches first Japan project with Tokyo Gas partnership
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Eku Energy, an energy storage specialist, unveiled the Hirohara Battery Energy Storage System (BESS) situated in Oaza Hirohara, Miyazaki City, Miyazaki Prefecture.
This 30 megawatt/120 megawatt-hours battery marks Eku Energy’s inaugural project in Japan, with a secured 20-year offtake agreement with Tokyo Gas.
Construction of the energy storage system is slated to commence in the second half of 2024, and the battery is expected to begin operating in July 20206.
Once operational, the BESS will be capable of storing sufficient electricity to power nearly 63,000 households for four hours.
Also read: Akaysha Energy Secures Record A$650 Million BESS Financing
Daniel Burrows, Head of Eku Energy APAC, said, “The Hirohara battery energy storage system is Eku Energy’s first project in Japan set to reach Financial Close and our latest global project that combines our global energy storage specialisation coupled with our deep local presence. “
He added, “We are pleased to be partnering with Tokyo Gas as an off-taker as we together accelerate the energy transition. The policy settings in Japan support investment in Battery Energy Storage and are compatible with delivering safe, secure and reliable green energy in a cost-effective manner to energy consumers, which is our mission.”
Also read: Intersect Power secures $837 million financing for Texas battery storage projects
MUFG Bank has arranged project financing for the battery storage project, marking its first involvement in such a venture in Japan.
Eku Energy will own the BESS under the offtake agreement, while Tokyo Gas will exclusively hold its operational rights for 20 years. Eku Energy will assume responsibility for the facility’s ongoing maintenance.
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