Macquarie-backed Eku Energy has completed the financing on its first battery energy storage system (BESS) project in Japan.

Japanese power company J-Power has completed its takeover of Australian renewable energy and energy storage developer Genex Power in a deal worth AUS$351 million (US$229 million).

Japan is one of the most talked-about emerging grid-scale energy storage markets in Asia, and featured prominently at the Energy Storage Summit Asia.

The Japanese government has published the list of battery aggregators that successfully applied to a scheme to promote energy storage systems.

Eneos Renewable Energy will add energy storage to an existing solar PV power plant in southern Japan, after successfully applying for subsidies to support the project’s cost.

A battery energy storage system (BESS) comprising Tesla Megapacks with output of 10.8MW and 43MWh storage capacity has gone into operation in Sendai, Japan.

US asset manager Stonepeak has entered Japan’s energy storage market, forming a partnership with CATL-backed developer CHC.

Over a gigawatt of bids from battery storage project developers have been successful in the first-ever competitive auctions for low-carbon energy capacity held in Japan.

G7 nations have agreed a new global energy storage target of 1500GW by 2030, a six-fold increase from today’s levels.

Battery storage developer Eku Energy has partnered with utility Tokyo Gas on a grid-scale energy storage project in Japan, with construction expected to start soon.