On August 6, Mitsubishi HC Capital Energy (Chiyoda-ku, Tokyo), a group company of Mitsubishi HC Capital (Mitsubishi HCC) engaged in renewable energy power generation business, and South Korea's Samsung Bussan signed a joint venture agreement on the grid storage battery business announced.
Image of completed grid-tie battery
In the future, the two companies will promote grid battery storage business in the Hokkaido Electric Power grid area through the special purpose company (SPC) Kaminagato Hikari Energy Storage LLC (Chuo-ku, Tokyo), which both companies have invested in. SPC's capital is 100,000 yen, of which Mitsubishi HC Capital Energy holds 90% and Samsung Bussan holds 10%. It was established in April.
Image of completed grid-tie battery
A 25MW, 50MWh lithium-ion battery will be installed in Chitose City, Hokkaido. The battery is expected to be manufactured by Tesla. Construction is expected to begin in April 2025, with the goal of
Business Plan
(Source: Mitsubishi HC Capital, Mitsubishi HC Capital Energy and Samsung Bussan released)
Mitsubishi HC Capital Energy owns a renewable energy resource with an equity capacity of 632MW in Japan. This is the company's first grid-based battery storage business, and the company will use the knowledge and know-how gained through development and operation as a major investor in SPC to align the group's renewable energy, supply chain construction to retail.
In its mid-term business plan for fiscal years 2023 to 2025, Mitsubishi HC Capital Group has set one of its mid-term growth strategies as increasing the added value of energy resources through new business initiatives, including the storage battery business. The Group's total equity capacity in renewable energy generation businesses in Japan and overseas reaches 1.5GW.
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