Eku Energy secures financing for 30-MW battery project in Japan
- Eku Energy powers up Japan's energy transition with 30 MW battery storage project, backed by Mitsubishi UFJ Financial Group and Tokyo Gas Co Ltd.
Eku Energy has achieved financial closing for its 30 MW/120 MWh battery energy storage project in Japan, with debt financing secured from Mitsubishi UFJ Financial Group. The Hirohara project, located in Miyazaki Prefecture, is set to support the grid and contribute to the energy transition. The project will be operated under a 20-year offtake contract with Tokyo Gas Co Ltd, with Eku Energy as the site owner and Tokyo Gas holding the operating rights.
Construction of the Hirohara BESS is expected to begin in the second half of 2024, with the battery becoming operational in 2026. Eku Energy's partners in the project include Kinden Corporation, Fortec Architects, and Looop Inc. The successful project financing puts Eku Energy on track to meet all future milestones as planned.
What partners are involved in Eku Energy's Hirohara battery energy storage project in Japan?
Partners involved in Eku Energy's Hirohara battery energy storage project in Japan:
- Mitsubishi UFJ Financial Group (debt financing secured)
- Tokyo Gas Co Ltd (offtake contract holder)
- Kinden Corporation
- Fortec Architects
- Looop Inc