ICG, a global alternative asset manager, has announced that its Asia Pacific Infrastructure team (ICG APAC Infra) has entered into an agreement to partner with Ray8, a Japan-based developer, owner and operator of battery energy storage system (BESS) projects, to help scale the platform.
With initial backing from Green Tower, an early-stage investor focused on the energy transition, Ray8 was founded by Tomohide Den, a seasoned entrepreneur and developer with more than a decade of experience in renewable-energy development in Japan. Ray8’s management team combines expertise in development, engineering, commercialization and operation of grid-scale BESS projects.
ICG will work closely with the founder and management team to capitalize on fast-growing BESS market opportunities in Japan. Building on a diversified pipeline of projects already under active development, Ray8 seeks to grow through internally originated greenfield development and selective acquisition of green
