Daiwa Energy & Infrastructure has bought a minority stake in two large-scale battery storage projects from independent power producer (IPP) Enfinity Global.
The deal, announced by both companies last week (4 June), sees Daiwa Energy & Infrastructure acquire a 49% equity interest in 380MW of Enfinity Global development projects: a 250MW/500MWh (2-hour duration) battery energy storage system (BESS) in the ERCOT, Texas, market in the US and a 130MW/520MWh (4-hour duration) project in Veneto, northeast Italy.
Daiwa Energy & Infrastructure (DEI), launched in 2018 by Daiwa Securities, one of Japan’s biggest investment banks, invests directly in battery storage and data centres, as well as solar PV, wind and other infrastructure projects.
DEI entered the BESS market in Texas in April 2024 when it invested in and partnered with Stella Energy Solutions to co-develop Thomas Cameron BESS, a 200MW/480MWh ERCOT project set to enter the energy and ancillary service markets in 2026.
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The company also formed a recent partnership targeting the deployment of 1GWh of BESS projects in Japan, with Chinese battery manufacturer and storage system integrator Gotion High-Tech.
Meanwhile, Enfinity Global was established in 2019, and owns a 35.5GW portfolio of operational, under-construction and in-development renewable energy and energy storage projects worldwide, including 1.1GW of operational renewables capacity.
Readers of our sister site PV Tech will have seen coverage of Enfinity’s solar PV projects and financing activities in markets including Italy, Japan, the US and Italy. The company claimed with the January acquisition of two ERCOT BESS projects totalling 425MW/850MWh that its US BESS development pipeline had reached 6.6GW.
The Enfinity Global Texas project DEI has invested in is scheduled to go into commercial operation in the fourth quarter of 2026, while the project in Veneto, Italy, is due to go into commercial operation in Q4 2027.
