EXECUTIVE SUMMARY
Construction has begun on two grid-connected battery energy storage plants in Japan totaling 145 MW/589 MWh. ORIX is developing the Yufu and Yonezawa projects through its first energy storage investment structure involving external investor capital, with commercial operations scheduled for 2028 and 2030, respectively.
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ORIX Corporation, a Japan-based diversified financial services group headquartered in Tokyo, has begun construction of two power grid energy storage plants in Japan through joint investment with three external investors. The projects comprise the 70 MW/280 MWh Yufu Energy Storage Plant in Yufu, Oita, and the 75 MW/309 MWh Yonezawa Energy Storage Plant in Yonezawa, Yamagata. Together, the facilities will provide 145 MW of rated output and 589 MWh of rated storage capacity.
The development marks the first time ORIX has developed power grid energy storage plants using capital from external investors. ORIX holds a 23.7% interest, while the three external investors collectively hold 76.3%. The investors include a consolidated subsidiary of Mitsubishi UFJ Trust and Banking Corporation.
The Yufu facility occupies approximately 10,000 m² and is scheduled to commence commercial operation in 2028. Its 280 MWh rated capacity is equivalent to the daily electricity consumption of approximately 23,000 average households, based on one charge-discharge cycle per day and ORIX calculations.
The Yonezawa plant also covers approximately 10,000 m² and is scheduled to begin commercial operation in 2030. Its 309 MWh capacity is equivalent to the daily electricity usage of approximately 28,000 average households under the same calculation basis.
ORIX will handle asset management, including decision-making support and business management related to the development and operation of the facilities. ORIX Renewable Energy Management Corporation will oversee safety management during construction and provide operation and maintenance services after commissioning.
The plants will connect large-scale batteries directly to the power grid. They are intended to charge electricity when supply exceeds demand and discharge during periods of shortage, helping balance electricity supply and demand and support the use of variable renewable generation.
ORIX entered the energy storage plant business in 2022 and has also developed the Kinokawa and Maibara Koto energy storage projects. The company plans to continue developing energy storage facilities across Japan while using third-party capital to expand its asset management activities.