The Stonepeak and CHC energy storage platform has secured 20-year capacity contracts for five BESS projects in Japan, totaling 348MW, advancing its position in the country's energy transition efforts.

Information on the Target

The energy storage platform, a collaboration between Stonepeak and CHC, has recently secured 20-year fixed revenue capacity market contracts for five battery energy storage system (BESS) projects in Japan. These projects boast a combined gross capacity of 348MW and were awarded in the latest round of Japan's Long-term Decarbonization Auction. This achievement marks the Platform's second consecutive win in this government-led tender, building on a previous successful auction in 2024 where it secured contracts for four BESS projects totaling 131MW.

With these new capacity market contracts, the Platform will enter formal agreements with the Organization for Cross-regional Coordination of Transmission Operators, Japan (OCCTO). This crucial step solidifies the long-term offtake agreements with the government and allows the Platform to advance towards the construction and operational readiness of these vital energy storage projects.

Industry Overview in Japan

Japan's energy sector is undergoing significant transformation as the nation strives to achieve carbon neutrality by 2050. The government is actively promoting renewable energy sources and enhances infrastruc