Stonepeak, an investment firm specialising in infrastructure, and CHC, a Singapore-based BESS developer, have announced the establishment of a collaborative platform to advance BESS projects in Japan.

The Stonepeak/CHC platform recently secured a 20-year fixed revenue capacity market contract for four BESS projects, awarded during Japan’s first long-term decarbonisation auction.

The platform’s objective is to develop, construct and operate BESS projects that will contribute to Japan’s decarbonisation goals.

By combining Stonepeak’s investment experience in Japan’s renewable sector with CHC’s technical expertise, the platform will target 1GW of BESS projects up to 2028.

The collaboration supports Japan’s ambition for carbon neutrality and enhances the stability and reliability of its national grid.

Stonepeak senior managing director Ryan Chua stated: “As Japan accelerates the development of renewable energy projects to meet its decarbonisation goals, energy storage will have a crucial role to play in enhancing the reliability of the Japanese grid.

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“This increasing need for dependable BESS capacity, which has the long-term support of the Japanese Government, is the basis for our decision to pursue this partnership with CHC, which we believe will be a strong fit for our global renewables strategy.”

CHC CEO Jay Guo stated: “We are excited to partner with Stonepeak, the world’s largest independent infrastructure investor with a strong track record of supporting successful renewable energy platforms, as CHC continues to build and scale our BESS business.

“CHC is committed to Japan’s energy transition, reliable power grids and advancing sustainable solutions. Our partnership with Stonepeak marks a significant step towards delivering more reliable and efficient renewable energy that will benefit communities and industries across Japan.”

Stonepeak’s current renewables and energy transition portfolio features 16.2GW of capacity in operation and development across solar, onshore and offshore wind, and battery storage.

In March 2024, Stonepeak and Shizen Energy formed an onshore wind energy platform, TerraWind Renewables.

In the same month, Ørsted finalised a deal to sell its equity stake in a 957MW onshore wind farm portfolio in the US to Stonepeak.