The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

Developer Akaysha and Japanese conglomerate Itochu partner on battery storage projects


Blackrock-owned developer Akaysha and Japanese conglomerate Itochu have entered into a strategic alliance to develop battery storage projects in Japan.

The pair have entered into a strategic alliance agreement to collaborate in the area of utility-scale energy storage, they announced last week (8 September).

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The alliance will see Akaysha and the Itochu Corporation promote the development of energy storage projects in Japan and also co-operate to expand the activity overseas, including in Australia.

Japanese financial paper Nikkei reported that the two companies aim to develop battery storage projects at 10-20 locations mainly in Japan, while Itochu is targeting up to 20 large-scale projects in Japan by 2030.

Itochu is aiming to grow the energy storage business in Japan to 1GWh of capacity and US$678 million (JPY100 billion) in value, capturing 10-20% of the domestic market share.

Itochu Corporation is one of Japan’s seven major sogo shosha conglomerates with specialisms in textiles, machinery, metals and minerals, energy, food and general products. The firm is already a leading seller of residential energy storage systems in Japan while this year partnered with a utility in Osaka to deploy an 11MW/23MWh in the prefecture.

Akaysha is an Australia-based battery storage developer owned by the world’s largest asset manager Blackrock. It is most well-known for the Waratah Super Battery, a 850MW/1680MWh battery energy storage system (BESS) in New South Wales, which has been described as the largest single-phase BESS project in the world.

Itochu has installed over 600MWh of energy storage products to-date while Akaysha is targeting 10GWh of energy storage projects.

Read Next

June 21, 2024
Rankings by EY of the most attractive markets for renewable energy investment include battery storage, with US, China and UK as frontrunners.
June 18, 2024
Aaron Philipp Gerdemann explores some of the grid-forming technologies emerging as alternatives to traditional solutions for safeguarding the grid.
June 13, 2024
US$5 million will be made available for long-duration energy storage (LDES) projects via a competitive solicitation run by the New York State Energy Research and Development Authority (NYSERDA).
June 13, 2024
TCC Group Holdings, the majority owner of New HOrizons Ahead (NHOA), intends to increase its holding and take the company private, delisting it from the Euronext Paris exchange.  
June 12, 2024
We hear from consultancy AFRY about how energy storage can reduce market risks for CfD-winning projects in the UK, now and in future, as Ørsted launches a BESS at a major wind farm project with a CfD.

Most Popular

Email Newsletter