Stonepeak and CHC, a battery energy-storage system (BESS) project development and electricity data management company headquartered in Singapore, have created a platform focused on the development, construction and operation of energy-storage projects in Japan.
The Stonepeak / CHC platform will focus on developing, constructing and operating BESS projects to accelerate the decarbonization of Japan’s power industry. It was recently awarded a 20-year fixed-revenue capacity market contract for four BESS projects as part of the Japanese government’s inaugural Long-term Decarbonization Auction and initially will target 1 gigawatt of BESS projects in Japan during the next five years. In addition, leveraging Stonepeak's investment experience in Japan’s renewable sector and CHC’s technical expertise, the platform will seek to build and grow a long-term business in Japan to facilitate the country’s carbon-neutrality goal while supporting grid stability and reliability.
