Stonepeak and CHC Collaborate to Develop Energy Storage Projects in Japan

Stonepeak has partnered with CHC, a battery energy storage system (BESS) project development and electricity data management company headquartered in Singapore, to establish a platform dedicated to the development, construction, and operation of energy storage projects in Japan.

The partnership aims to leverage Stonepeak's investment experience in Japan's renewable sector and CHC's technical expertise to accelerate Japan's power industry decarbonization through the development, construction, and operation of BESS projects. Recently, the Stonepeak / CHC platform secured a 20-year fixed revenue capacity market contract for four BESS projects as part of the Japanese government's inaugural Long-term Decarbonization Auction.

Ryan Chua, Senior Managing Director at Stonepeak, emphasized the crucial role of energy storage in enhancing the reliability of the Japanese grid amid the country's accelerated development of renewable energy projects to meet decarbonization goals. 

“This increasing need for dependable BESS capacity, which has the long-term support of the Japanese government, is the basis for our decision to pursue this partnership with CHC, which we believe will be a strong fit for our global renewables strategy. We look forward to combining our expertise in renewables and platform creation with CHC’s extensive local network, relationships, and differentiated supply chain to develop this platform,” said Chua.

Jay Guo, Chief Executive Officer of CHC, expressed excitement about the partnership with Stonepeak and reiterated CHC's commitment to Japan's energy transition and advancing sustainable solutions. “CHC is committed to Japan’s energy transition, reliable power grids and advancing sustainable solutions. Our partnership with Stonepeak marks a significant step towards delivering more reliable and efficient renewable energy that will benefit communities and industries across Japan,” said Guo.

Stonepeak adopts a strategic and disciplined approach to investing in renewables and the energy transition, with a portfolio encompassing approximately 16.2 GW of capacity in operation and development. In 2024, Stonepeak has made notable investments in renewable energy projects worldwide, including TerraWind Renewables, ZEN Energy's Templers BESS project, US onshore wind farms, and Dominion Energy's Coastal Virginia Offshore Wind Project.