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Tamagawa Energy acquires 2MW storage project in Japan for JPY690mn

Tamagawa Energy has completed the acquisition of a 2MW/8MWh battery site in Kagoshima for JPY690mn ($4.57mn), marking its entry into grid-scale storage.

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Tamagawa Energy has announced the acquisition of a 2MW/8MWh battery energy storage system (BESS) located in Kirishima City, Kagoshima Prefecture, from GreenEnergy Plus. The transaction includes the purchase of the 2,433m² site along with grid connection rights for a total of JPY120mn ($796,000). The company plans to invest an additional JPY570mn ($3.78mn) in the development and construction of the facility.

This project marks Tamagawa Energy’s first grid-scale storage asset. It is part of a broader partnership announced in September between Tamagawa Holdings and GreenEnergy & Company, targeting the development of ten BESS projects and 5MW of solar capacity. While no commissioning date has been provided, the facility is expected to come online in fiscal year 2026 or 2027, based on comparable project timelines in the sector.

A strategic shift for Tamagawa Energy

This development signals a strategic shift for Tamagawa Energy, which had previously focused on low-voltage solar installations, along with several small-scale wind and hydro projects. The company has developed over 400 such assets totalling 61MW, and continues to operate more than 100 of them, with a combined capacity of approximately 5.5MW.

In April, Tamagawa Energy established a division dedicated to researching the grid-scale storage market, laying the groundwork for its diversification into this segment. It also provides operations and maintenance services to third-party asset owners across Japan.

GreenEnergy Plus advances development targets

On the seller’s side, GreenEnergy Plus continues to expand its activities in the storage sector. The company and its affiliates aim to develop 1GWh of capacity by April 2029. To finance this ambition, parent company GreenEnergy & Company raised JPY1.2bn ($7.96mn) through convertible bonds and stock warrants issued to Simplex Capital Investment.

The Kirishima project is the first of three assets Tamagawa Energy plans to acquire from GreenEnergy Plus within fiscal year 2025. This phased rollout is expected to strengthen the company’s position in the large-scale storage sector while broadening its energy infrastructure portfolio.

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