ORIX Corporation has confirmed the signing of a joint venture agreement with Kansai Electric Power Co., Inc. (KEPCO) for the operation of an energy storage plant in Japan.
ORIX and KEPCO will form Kinokawa Energy Storage LLC and begin construction of an energy storage plant on the grounds of Kansai Transmission and Distribution, Inc.'s Kinokawa Substation in August 2022. Large-scale grid storage batteries with rated outputs of 48 MW and capacities of 113 MWh will be installed, with operations set to begin in 2024.
Kinokawa Energy Storage project aims to stabilize electricity supply and demand by connecting large-scale storage batteries to the power grid, charging when there is a surplus, and discharging when there is a shortage. KEPCO will be primarily responsible for the operation of the storage batteries in this project, while ORIX will be primarily responsible for maintenance and asset management.
