Peak Energy expands Japan footprint with acquisition of 11 MW of high-voltage solar assets
Solar projects to come online by 2027 and enable corporates in Japan to decarbonize operations and save costs.
SINGAPORE and TOKYO, June 13, 2025 /PRNewswire/ -- Peak Energy, a pan-Asian renewable energy developer and Independent Power Producer (IPP), has acquired 11 MW of ready-to-build (RTB) high-voltage solar projects across Japan.
Located in four different regions of Japan (Chubu, Chugoku, Hokkaido and Kansai), the projects are scheduled for completion in 2027 and are expected to generate more than 13 GWh of clean electricity each year for several decades, thereby avoiding nearly 6,000 tonnes of CO₂ emissions annually, equivalent to removing around 2,000 cars from the road.
The electricity produced from these sites will be sold to corporates through long-term power purchase agreements (PPAs), at fixed prices, allowing customers to make immediate savings on their electricity bills and to shield themselves from fluctuations in electricity tariffs for 20+ years.
This transaction also marks another milestone in Peak Energy's rapid growth in Japan, where the company already co-owns a 28 MW plant in Kyushu and is actively expanding activities across a range of energy services, including onsite solar, offsite solar and collocated solar + battery energy storage systems (BESS). Across the Asia-Pacific region, Peak now owns over 200 MW of solar projects in operation or under construction, along with 298 MWh of battery energy storage capacity in operation or under construction.
"This acquisition reinforces our long-term commitment to Japan," said Gavin Adda, CEO of Peak Energy. "Combined with our broader pipeline of high-voltage assets, it will support our mission to deliver clean, affordable and reliable energy solutions to businesses nationwide."
"Given how slowly new supply of large-scale solar capacity is coming on stream in our country, we are excited that we will be able to provide our corporate customers with clean energy within the next couple of years," added Eiji Sato, Country President of Peak Energy in Japan.
About Peak Energy
Headquartered in Singapore, Peak Energy develops, owns, and operates renewable energy assets across Asia. Peak Energy delivers clean, affordable, and reliable power solutions to corporate customers through a diverse range of business models, including utility-scale solar, off-site and on-site corporate PPAs, and battery storage. Peak currently owns over 200 MW of operating assets across the region, including 28 MW in Japan. Peak Energy is wholly owned by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, with approximately USD 73 billion in assets under management.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
an hour ago
- Korea Herald
Xinhua Silk Road: 3rd Tianjin International Shipping Industry Expo kicks off to boost win-win cooperation
BEIJING, June 14, 2025 /PRNewswire/ -- The third Tianjin International Shipping Industry Expo (TISIE) kicked off in north China's Tianjin Municipality on Thursday, attracting the attention and participation of over 440 enterprises. To better present the development achievements of China's shipping industry and the future development trend of the global shipping industry, the expo is themed on "Shipping to the World and Navigating towards the Future, Embracing New Opportunities for Openness and Cooperation". It focuses on the entire shipping industry chain, aiming to create the largest and most influential shipping industry event and cooperation exchange platform in China and even the world. Lasting till June 14, the expo features nine exhibition areas involving international ports, green and smart shipping, shipping industry chains, etc., covering over 50,000 square meters, and over 20 professional activities will be held to display the development modes of the shipping industry from multiple dimensions. Representatives from various ports, industries, and authoritative research institutions at home and abroad shared the latest trends in global port and shipping development at the opening ceremony. Major industry achievements were also released at the opening ceremony, including the blue book on the development of Tianjin international shipping center by China Economic Information Service (CEIS), the port economic development report of Chinese seaport cities by the Transport Planning and Research Institute with the Ministry of Transport, the ESG evaluation guidelines for international shipping and logistics enterprises, etc. Tianjin Port's operation reached its historical high level in 2024, with container throughput rising to eighth in the world and sea-rail intermodal transportation ranking third among coastal ports in China, and its land-sea connectivity and global radiation capabilities have been significantly improved, said Cao Wenzhong, president with CEIS. According to the 2024 Xinhua-Baltic International Shipping Center Development Index, Tianjin's shipping service industry has gradually taken shape, with prominent advantages in shipping finance, Cao noted, adding that the practical exploration of the port-industry-city integration in Tianjin has great demonstration value, and the port economy has risen to become the "golden engine" for high-quality regional development.
Korea Herald
16 hours ago
- Korea Herald
Ping An Ranks 27th on Forbes' Global 2000 List
HONG KONG and SHANGHAI, June 13, 2025 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. ("Ping An", the "Company" or the "Group", HKEX: 2318; SSE: 601318) has risen two spots to rank 27th on Forbes' 2025 Global 2000 list, an authoritative ranking of the world's largest public companies based on a composite score of revenue, profit, assets, and market value. Released on June 12, the latest rankings reflect Ping An's continued growth and strong performance, as the Group moved up two places from last year. Additionally, Ping An secured 5th place among Chinese companies, climbing one spot from the previous year, while maintaining its position as the highest-ranked insurance company in China. The top five Chinese companies in the 2025 rankings are Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, and Ping An. During the period, Ping An reported revenue of US$158 billion, profit of US$17.6 billion, and total assets amounted to US$1.8 trillion. Progress driven by technology-enabled "integrated finance + health and senior care" dual-driver strategy Ping An continues to advance its technology-enabled "integrated finance + health and senior care" dual-driver strategy, driving stable growth across its core businesses. Through its integrated finance model, Ping An has strengthened its engagement with retail customers. As of the end of 2024, Ping An served 242 million retail customers, with 25.6% holding four or more contracts within the Group. Customer retention remained robust at 98.0%. The health and senior care strategy also provided differentiated advantages, with nearly 63% of Ping An's retail customers entitled to service benefits in the health and senior care ecosystem. In transforming and upgrading its core businesses, Ping An harnessed technology to reduce costs, enhance operational efficiency, and strengthen risk management. The number of service cases handled by Ping An's AI service representatives reached approximately 1.84 billion, accounting for 80% of the Group's total customer service volume in 2024. In Life insurance, 93% of policies were underwritten within seconds via smart underwriting, smart claim settlement and smart policy renewal. Moreover, Ping An P&C achieved claims savings of RMB11.94 billion through smart fraud detection, marking a year-on-year increase of 10.4%. In 2024, Ping An achieved an operating profit attributable to shareholders of the parent company of RMB121.862 billion, achieving a year-on-year increase of 9.1%. Net profit attributable to shareholders of the parent company reached RMB126.607 billion, representing a significant year-on-year increase of 47.8%. Revenue totaled RMB1,028.925 billion, up 12.6% year-on-year, while total assets reached RMB12.96 trillion, a 11.9% increase from the beginning of the year. Enhancing customer experience with the "worry-free, time-saving, and money-saving" value proposition Ping An has actively promoted its "worry-free, time-saving, and money-saving" value proposition to enhance customer experience. Under its "worry-free" services, Ping An's auto insurance now offers 82 convenient services, including roadside assistance, vehicle inspections, and chauffeur services, benefiting 236 million users of "Ping An Auto Owner" app. By the end of 2024, Ping An's home-based senior care services had expanded to cover 75 cities nationwide. For "time-saving" initiatives, 93% of the policies were underwritten within seconds through smart underwriting, smart claim settlement and smart policy renewal. Commitment to shareholder returns, communication, and value creation According to its 2024 annual report, Ping An proposed a final dividend of RMB1.62 per share in cash for 2024, bringing the total annual dividend to RMB2.55 per share, a 5% year-on-year increase. The cash dividend payout ratio based on operating profit attributable to shareholders (OPAT) was 37.9%, marking 13 consecutive years of dividend growth. The Group maintains strong communication with shareholders through annual general meetings and investor roadshows. On May 13, 2025, Ping An held its 2024 Annual General Meeting, attended by 117 shareholders. Management addressed 29 questions and suggestions raised by shareholders. Fulfilling corporate social responsibility and supporting economic development As of December 31, 2024, Ping An had invested nearly RMB10.14 trillion to support the real economy. Its green investment of insurance funds reached RMB124.712 billion, while its green loan balance amounted to RMB157.762 billion. In 2024, green insurance premium income totaled RMB 58.608 billion. Through its "Ping An Rural Communities Support", Ping An provided RMB52.014 billion in funding to promote rural industrial vitalization. In addition, MSCI upgraded Ping An's ESG rating to AA, giving it the top spot in the multi-line insurance & brokerage category in the Asia-Pacific region for three consecutive years. The Forbes Global 2000 list, published annually since 2004, evaluates publicly traded companies worldwide based on revenue, profit, assets, and market capitalization. This year's list revealed record-breaking combined figures for the top 2,000 companies, with a total revenue of US$52.9 trillion, profit of US$4.9 trillion, assets of US$242.2 trillion, and market capitalization of US$91.3 trillion. By country, the United States led with 612 companies, followed by China (including Hong Kong) with 317 companies. About Ping An Group Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318 / 82318; SSE:601318) is one of the largest financial services companies in the world. It strives to become a world-leading provider of integrated finance, health and senior care services. Under the technology-driven "integrated finance + health and senior care" strategy, the Group provides professional "financial advisory, family doctor, and senior care concierge" services to its nearly 240 million retail customers. Ping An advances intelligent digital transformation and employs technologies to improve financial businesses' quality and efficiency and enhance risk management. The Group is listed on the stock exchanges in Hong Kong and Shanghai. As of the end of December 2024, Ping An had more than RMB12 trillion in total assets. The Group ranked 27 th in the Forbes Global 2000 list in 2025 and 53 rd in the Fortune Global 500 list in 2024.
Korea Herald
16 hours ago
- Korea Herald
China, U.S. should make better use of consultation mechanism to safeguard results of dialogue
BEIJING, June 13, 2025 /PRNewswire/ -- A report from People's Daily: On June 9 and 10 local time, the first meeting of China-U.S. economic and trade consultation mechanism was held in London. The two sides held candid and in-depth talks, and thoroughly exchanged views on economic and trade issues of mutual concern. They have agreed in principle the framework for implementing consensus between the two heads of state during their phone talks on June 5, as well as those reached at Geneva talks. This meeting marked a new step taken by both sides to resolve bilateral economic and trade issues through equal dialogue. Both sides acknowledge the importance of a stable China-U.S. economic and trade relationship for the economies of both countries and the global economy, and the constructive outcomes achieved by the meeting have also brought new optimism to the international community. The establishment of the China-U.S. economic and trade consultation mechanism is a major outcome of the Geneva economic and trade talks. It provides an institutional guarantee for both sides to bridge differences and deepen cooperation. During their recent phone call, the China and U.S. heads of state agreed to make good on the agreement reached in Geneva and to hold another round of meeting as soon as possible. Chinese President Xi Jinping emphasized the importance to make good use of the economic and trade consultation mechanism already in place. This meeting is an important consultation conducted under the guidance of the strategic consensus reached by the two heads of state. All sectors of both countries and the international community paid close attention to this meeting, generally believing that as the world's two largest economies, China and the U.S. are better served by cooperation than friction, and by dialogue than confrontation. There are broad expectations that both sides will continue to resolve differences through equal dialogue and consultation, contributing greater stability and certainty to the world economy. Looking back at the history of China-U.S. relations, one lesson stands out: strengthening communication and dialogue through institutional arrangements plays an important role for both sides to properly manage differences and enhance cooperation. At this meeting, the two sides engaged in candid and in-depth communication and made new progress in addressing each other's economic and trade concerns, demonstrating the effectiveness of the consultation mechanism. The sound development of China-U.S. economic and trade relations requires joint efforts from both sides. Each achievement is hard-won and should be all the more cherished and maintained. Moving forward, both sides should, in accordance with the important consensus and requirements made during the phone call between the two heads of state, further leverage the role of the China-U.S. economic and trade consultation mechanism, continuously enhance mutual understanding, reduce misperceptions, and strengthen cooperation. After decades of development, China and the U.S. have forged a pattern of complementary strengths, mutual benefits, and win-win cooperation in the economic and trade field. This progress has been driven by the joint efforts of businesses and peoples on both sides, as well as by market forces and the international division of labor. A stable China-U.S. economic and trade relationship holds profound significance not only for both countries but also for global economic stability. Economic cooperation and trade between the two countries is so huge, substantive and broad-based, involving so many players, that it is only natural for some differences to exist. Resolving differences will not be achieved overnight. It takes time, wisdom, and patience. China has approached economic and trade consultation with sincerity and principled resolve. As a responsible major country, China has taken seriously, earnestly implemented, and actively upheld the consensus reached at the Geneva talks. At this meeting, China reaffirmed its clear position of implementing the consensus and requirements made by the two heads of state and jointly safeguarding the hard-won outcomes of dialogue. The U.S. side also stated that it will work in the same direction with China, in accordance with the requirements reached during the phone call between the two heads of state, and jointly implement the "London framework." It is hoped that the U.S. will match its words with deeds by translating its commitments into concrete policies and actions - demonstrating integrity in honoring its commitments and taking meaningful steps to implement the consensus and resolve bilateral economic and trade issues through equal dialogue. Opening up is a defining feature of Chinese modernization. Regardless of changes in the external environment, China remains committed to the belief that opening up and cooperation are the right paths to high-quality development and greater mutual benefit for all. According to China's General Administration of Customs, the country's total value of goods imports and exports in yuan-denominated terms stood at 17.94 trillion yuan ($2.49 trillion) in the first five months of this year, up 2.5 percent year on year, continuing its growth momentum. Exports rose by 7.2 percent year on year, reflecting the strong resilience of China's goods trade and the steady recovery of its economy. China welcomes enterprises from all countries, including the U.S., to continue investing and operating in China and to seize the opportunities presented by its development. Both history and reality have proven that dialogue and cooperation are the only right choice for the two countries. As long as both sides move toward each other, uphold the principle of mutual respect and mutual benefit, make good use of the consultation mechanism already in place, and take concrete actions to preserve the hard-won outcomes of dialogue, the China-U.S. economic and trade relationship will stay on a steady and constructive track toward long-term progress.
