Stonepeak, a premier infrastructure investment firm, and CHC, a leading battery energy storage system (BESS) project developer, have joined forces to establish a groundbreaking initiative in Japan’s energy sector.
Fostering Energy Storage Solutions in Japan
The collaboration aims to spearhead the development, construction, and operation of battery energy storage projects in Japan, leveraging Stonepeak’s investment prowess and CHC’s technical know-how. This initiative aligns with Japan’s ambitious decarbonization agenda and its transition towards renewable energy sources.
The recently formed Stonepeak / CHC platform secured a significant 20-year fixed revenue capacity market contract for four BESS projects through Japan’s Long-term Decarbonization Auction. This milestone underscores the platform’s commitment to advancing Japan’s green energy policies while ensuring grid stability and reliability.
Accelerating Japan’s Decarbonization Goals
Ryan Chua, Senior Managing Director at Stonepeak, emphasized the pivotal role of energy storage in fortifying Japan’s grid reliability amidst the rapid expansion of renewable energy projects. He highlighted the platform’s dedication to meeting Japan’s increasing demand for dependable BESS capacity, backed by long-term governmental support.
Jay Guo, CEO of CHC, echoed this sentiment, expressing enthusiasm for collaborating with Stonepeak to bolster Japan’s energy transition. He emphasized CHC’s commitment to delivering sustainable solutions and enhancing the resilience of Japan’s power infrastructure.
Strategic Investment in Renewable Energy
Stonepeak’s investment strategy in renewables underscores a deliberate approach to navigating the energy transition landscape. With a diverse portfolio encompassing solar, wind, and battery storage projects, Stonepeak is poised to play a pivotal role in shaping Japan’s renewable energy market.
In 2024 alone, Stonepeak made significant investments in various renewable energy ventures, including onshore wind projects in partnership with Shizen Energy and offshore wind projects with Dominion Energy, among others.
Ashurst, White & Case LLP, and Greenberg Traurig, LLP provided legal counsel for Stonepeak, CHC, and the platform, respectively, facilitating seamless collaboration and compliance.
About Stonepeak and CHC
Stonepeak is a leading alternative investment firm focused on infrastructure and real assets, boasting a robust portfolio and a global presence. CHC, on the other hand, specializes in BESS project development and electricity data management, driving innovation in the energy sector.
As Japan embarks on its journey towards carbon neutrality, initiatives like the Stonepeak / CHC platform are instrumental in accelerating the adoption of renewable energy and advancing sustainability goals.
Source：businesswire.com
