Renewable energy developer Renova has formed JV Himeji Energy Storage Facility Godo Kaisha to launch a grid storage battery business in Japan.
Himeji concluded a project finance agreement with SMFL MIRAI Partners Co in June 2023.
Others partners in the venture are Idemitsu Kosan and NAGASE & Co.
The business is a first grid storage battery business for Renova Group.
It will assume a role to adjust the supply of electricity, helping to make renewable power a major power source.
As the amount of electricity generated by renewable power fluctuates depending on weather and hour bands, the storage operation is expected contribute to stabilising power grids and increasing installed capacity of renewable energy power.
Renova will continue to develop grid storage batteries and renewable energy power plants with storage batteries in Japan and overseas to contribute to decarbonisation and enhance the company’s corporate value.