Stonepeak and CHC bag deals for 348 MW battery storage projects in Japan

These involve 20-year fixed revenue capacity market contracts.

Stonepeak and CHC’s energy storage platform has secured deals for five battery energy storage system (BESS) projects totalling 348 megawatts (MW) of gross capacity in the latest round of Japan’s Long-term Decarbonisation Auction.

In a statement, Stonepeak said the 20-year fixed revenue capacity market contracts follow the platform’s win in the inaugural auction in 2024. In this tender, the company was awarded contracts for four BESS projects totalling 131 MW.

The Platform will enter into capacity market contracts with the Organisation for Cross-regional Coordination of Transmission Operators, Japan for the five awarded BESS projects, thereby formalising the 20-year government offtake agreement, and will continue progressing with late-stage development to prepare the BESS projects for construction and operations.