An energy storage platform jointly established by Stonepeak and CHC has secured 20-year fixed revenue capacity market contracts for five battery energy storage system (BESS) projects totaling 348 megawatts of gross capacity in the latest round of Japan’s Long-term Decarbonization Auction.
The contracts represent the platform’s second consecutive win in the government tender, following the inaugural auction in 2024, in which the platform was awarded contracts for four BESS projects totaling 131 megawatts.
According to the terms of the auction, the energy storage platform will enter into capacity market contracts with the Organization for Cross-regional Coordination of Transmission Operators, Japan (OCCTO) for the five awarded BESS projects, formalizing the 20-year government offtake agreement. It will continue progressing with late-stage development to prepare the BESS projects for construction and operations.
“CHC is pleased with the platform’s success i
