EXECUTIVE SUMMARY
A 50 MW / 196 MWh battery storage project in Oita Prefecture has reached financial close, with Nozomi Energy securing non-recourse project financing from Aozora Bank. The Nozu BESS was awarded under Japan’s FY2023 Long-Term Decarbonisation Auction and is targeted for completion in Q3 2028.
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Nozomi Energy, a Japanese renewable energy platform backed by Actis, has reached financial close for the 50 MW / 196 MWh Nozu Battery Energy Storage System in Oita Prefecture, Japan. The project is located in Nishihata, Nozu Town, Usuki City.
The Nozu BESS was awarded under Japan’s FY2023 Long-Term Decarbonisation Auction (LTDA) and benefits from a 20-year CPI-linked capacity payment. Nozomi Energy secured non-recourse project financing from Aozora Bank, Ltd. Construction is expected to begin imminently, with completion targeted for Q3 2028.
The financial close advances Nozomi Energy’s expansion into battery energy storage alongside its existing solar and onshore wind activities. The company said its BESS capabilities cover feasibility analysis, design optimisation, project development, contracting, financing and construction.
Nozomi Energy is expanding its BESS pipeline amid demand for renewable and flexible capacity associated with Japan’s decarbonisation and domestic energy security priorities. Beyond Nozu, another 50 MW BESS project is expected to reach financial close later in 2026. The company also has late-stage onshore wind and greenfield solar projects under development.
Earlier in 2026, Nozomi Energy secured non-recourse refinancing for nine operational solar projects totalling approximately 110 MWdc as part of its portfolio financing strategy.
Actis established Nozomi Energy in May 2023. Since then, the platform has accumulated a portfolio of approximately 900 MW, including 521 MW of operational assets. Nozomi Energy is targeting a 1.1 GW portfolio of solar, onshore wind and BESS assets by 2027.
The Nozu financial close provides the company with financing for one of its battery projects as it develops flexible infrastructure in the Japanese market. The project's LTDA award provides a 20-year CPI-linked capacity payment, while the secured financing supports its progression toward construction and targeted completion in Q3 2028.