Energy Storage Platform Backed by Stonepeak and CHC Awarded Five Projects in Japan Long-term Decarbonization Auction
NEW YORK & TOKYO--(BUSINESS WIRE)--The energy storage platform jointly established by Stonepeak and CHC (the 'Platform') today announced that it has secured 20-year fixed revenue capacity market contracts for five battery energy storage system ('BESS') projects totaling 348MW of gross capacity in the latest round of Japan's Long-term Decarbonization Auction (the 'Auction'). The contracts represent the Platform's second consecutive win in the government tender, following the inaugural Auction in 2024, in which the Platform was awarded contracts for four BESS projects totaling 131MW.
Pursuant to the terms of the Auction, the Platform will enter into capacity market contracts with the Organization for Cross-regional Coordination of Transmission Operators, Japan ('OCCTO') for the five awarded BESS projects, thereby formalizing the 20-year government offtake agreement, and will continue progressing with late-stage development to prepare the BESS projects for construction and operations.
'We are delighted with the results of the latest Long-term Decarbonization Auction, which position the Platform well to continue supporting grid stability and reliability while facilitating Japan's carbon neutrality objectives. We are grateful for the consideration of the Review Committee throughout this process,' said Ryan Chua, Senior Managing Director at Stonepeak. 'We look forward to continuing to work with CHC to further the Platform's strong position in Japan's energy storage market.'
'CHC is pleased with the Platform's success in the latest Auction round, which highlights the value we bring to Stonepeak as a trusted partner and reinforces CHC's commitment to the ongoing development of battery energy storage projects in Japan,' said Ahmed Al-Awa, Director at CHC. "CHC looks forward to continuing to play a major role in the development of the Japanese BESS market and supporting Japan in meeting its energy transition goals.'
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.
About CHC
CHC is a BESS project development company. With its dynamic team and the depth that CHC's shareholders bring, CHC is committed to driving the energy transition and advancing a sustainable economy. CHC is headquartered in Singapore and has an office in Tokyo. For more information on CHC, including its shareholders, please visit https://chcbess.com/.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Pimco Sees 'Good Opportunity' in Japan Bonds
Andrew Balls, chief investment officer for global fixed income at Pacific Investment Management Co., says long-dated Japanese government bonds are now looking "really interesting." He adds that while it is "not a long-term investment," there is a "good opportunity in the 30-year part of the Japanese curve." Balls speaks to Bloomberg's Francine Lacqua. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
an hour ago
Nintendo Switch 2 races to record sales, driven by Mario Kart World's blockbuster debut
LONDON -- The Nintendo Switch 2 is off to a turbo-charged start, thanks to a little help from Mario and his friends in Mario Kart World, smashing its own sales record by becoming the fastest selling Nintendo game system ever with more than 3.5 million units sold in just four days. Nintendo sold an estimated 2.7 million units of the original Nintendo Switch in its first month when it launched in March 2017, but have now managed to move over 3.5 million units in just 96 hours, an almost 30% increase in sales in a much shorter period, the company said. The Japanese company released the latest sales numbers on Wednesday and are aiming to sell 15 million units by March next year, putting them on track to meet or exceed expectations in the coming weeks and months. 'Fans around the world are showing their enthusiasm for Nintendo Switch 2 as an upgraded way to play at home and on the go,' said Nintendo of America President and Chief Operating Officer Doug Bowser. 'We are thankful for their response and happy to see the fun they are already having with Nintendo Switch 2 as they explore new features and games that bring friends and family together in new ways.' The Nintendo Switch 2 is the next generation console for the company, its first new system release in eight years, and features a larger screen capable of full 1080p high-definition display, a faster processor that allows for enhanced graphics and performance, as well as redesigned magnetic Joy-Con 2 controllers with mouse functionality, Nintendo said. The system also debuts the new GameChat2 feature where players can voice or video chat and share game screens with friends online. "You'll probably see a first batch of people who can't live without it," van Dreunen said. "If you're a die-hard [Switch] fan, it's like standing in line for the new Harry Potter book or movie,' Joost van Dreunen, a professor at New York University's Stern School of Business and writer of the SuperJoost Playlist, a games industry-focused newsletter, told ABC News last week. "Nintendo is making a carefully calculated bet with the Switch 2 that will pay off," van Dreunen continued. "While some might have hoped for a more revolutionary device, Nintendo's evolutionary approach shows deep market understanding … The console's focus on accessible and social gaming -- rather than competing with Microsoft and Sony on technical specs -- underscores Nintendo's commitment to shared experiences for all ages." The Nintendo Switch 2 system launched alongside the first brand new Mario Kart game in 11 years called Mario Kart World, featuring an interconnected world where you can drive virtually anywhere with dynamic weather conditions, new game modes and up to 24 drivers at once -- the most in the 33-year-old series history. Nintendo is hoping to build a base, as well as excitement for its new system, ahead of next month's launch of a new 3D platforming game starring Donkey Kong called Donkey Kong Bananza, which Nintendo says will let players 'unleash their inner Kong as they smash and bash their way through a wild, mayhem-packed action adventure.' After its global launch last Thursday, Nintendo Switch 2 is now available for the retail price of $449.99, and is also available as a bundle with a digital download of 'Mario Kart World' for $499.99.
Entrepreneur
an hour ago
- Entrepreneur
From Osaka to America: The Unconventional Journey of This Japanese Entrepreneur
When business leader Hideaki Nishioka left his stable corporate job in Japan to pursue entrepreneurship in the United States, his decision was met with confusion and resistance from his family and colleagues. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media. The decision to strike out and try something new is rarely an easy one, especially when it also involves defying convention and the risk of disappointing those closest to you. The start of any journey is often accompanied by a good deal of stress and uncertainty, but when a singular vision is paired with a bit of good fortune, exciting things are rarely far behind. When business leader Hideaki Nishioka left his stable corporate job in Japan to pursue entrepreneurship in the United States, his decision was met with confusion and resistance from his family and colleagues. Born and raised in Osaka, he had spent his entire life up until that point in elite academic institutions and prestigious roles at global firms like Itochu Corporation. Yet, deep down, he knew he was meant for something more than just climbing the corporate ladder. Instead of following the path expected of him, Nishioka took a bold leap into the unpredictable world of entrepreneurship. His journey took him from Tokyo to Vancouver, factories in Italy to an MBA program in California, and ultimately to the heart of the American restaurant industry. Today, he is the CEO of Tokyo Shokudo Holdings, a company on a mission to redefine Japanese dining in the U.S., making high-quality, authentic Japanese cuisine more accessible to everyday consumers. But Hideaki Nishioka's story isn't just about building a restaurant empire—it's about challenging conventions, embracing risk, and proving that success often lies down the roads less traveled. Nishioka dared to step outside tradition, blending Eastern discipline with Western entrepreneurial spirit to create something truly remarkable. A Road Less Traveled: Making of an International Trailblazer Nishioka was born in Osaka, Japan, and grew up with his big sister, a smart and industrious girl he adored. He would follow her around and read her school textbooks, and the two formed a friendly rivalry which inspired Nishioka to strive for academic excellence and exceed expectations. He attended Rakunan Junior High and High School, a prestigious institution in Kyoto built on a UNESCO World Heritage Site, To-ji Temple, before studying at Keio University in Tokyo, one of Japan's top business schools, focusing on financial engineering. But while tradition was the name of the game at his schools, with the vast majority of students pursuing careers in engineering and medicine, Nishioka had big dreams and took a gap year to study business in Vancouver, Canada. In Canada, he broadened his horizons by taking business management courses and developed a deep appreciation of how business is done internationally. With the understanding of Western business philosophies that this experience gave him, he went on to intern at multiple global firms, including Morgan Stanley, McKinsey, and PwC. "I learned that there is a critical difference between operating a company and managing employees between Japan and the U.S.," Nishioka revealed. "My passion is to unite the management techniques of these two countries and tailor them to the situation." With the fire of entrepreneurship lit, Nishioka turned down a promising job offer from Goldman Sachs in favor of Itochu Corporation, one of Japan's largest trading firms, attracted by its diversity and the chance to fully engage in international business as a manager. The entire global team at Itochu were much more experienced than Nishioka, but he built a strong rapport with them by always being respectful and suggesting clear, well-thought out ideas to gain their trust in him, which eventually led to his remarkable achievements at the organization. The Leap to Entrepreneurship and U.S. Expansion Even a dream job can be outgrown, and this was Nishioka's experience with Itochu. His time there was extremely valuable, and he maintains strong relationships with his former team and managers, but Nishioka was ready to challenge himself away from Itochu and continue exploring the world outside Japan. Determined to expand his business acumen beyond corporate life, Hideaki enrolled at UCLA Anderson School of Management, specializing in entrepreneurship and investment management. His venture capital experience at K Fund Capital Management in Los Angeles during his MBA helped Nishioka co-found 3D Architech, a metal 3D printing company, and secure venture capital funding after prestigious accelerator programs like Mass Challenge and CleanTech Open. After realizing that the majority of the time at startups is spent securing funding, Nishioka refocused his efforts on aligning himself with a cash-flow-driven business where he could apply his management skills. Good fortune struck, and Nishioka was introduced to the founder of Tokyo Shokudo Group, which operates several promising Japanese restaurant brands based in Texas and was looking to find its niche and establish itself as a force in the American dining scene. This pivotal moment reinforced a key insight: long-term success isn't just about innovation—it's about choosing the right business model with the right members that aligns with your skills, goals, and market realities. Building Tokyo Shokudo: A Vision for Japanese Dining in America "One thing I noticed after I came to the U.S. was that all the people who went to Japan told me that the food in Japan was much better than the Japanese food in the U.S.," Nishioka recalls. "The opportunity I see is the 'better' and 'affordable' Japanese food. At Tokyo Shokudo, we offer home-style, authentic Japanese food without going to Japan." Nishioka realized that many people in the United States ate at restaurants categorized as Japanese, but without developing an appreciation for what makes the food and the culture so unique. After conversations with the founder of Tokyo Shokudo Group, who wanted someone to help him refine and hone his vision of making Japanese cuisine accessible to the masses, Nishioka stepped in as CEO to take the business to the next level. Tokyo Shokudo Group has since grown to eight locations (soon to be 11 in 2025) across California, Texas, and Illinois in the United States, with plans to reach 50 locations by 2030. Nishioka's growth strategy is focused on franchising, data-driven and customer-oriented site selection, and menu optimization that focuses on affordability and operational efficiency without sacrificing quality. By offering a balance between authenticity and scalability, Hideaki and his team have positioned Tokyo Shokudo as the go-to brand for quality Japanese dining in the U.S. Lessons for Aspiring Entrepreneurs Hideaki Nishioka's unique experiences across Japan and America, strong drive to exceed expectations, and willingness to take on new and unexpected challenges have informed his successful approach to entrepreneurship, which emphasizes bold decision-making, adaptability, and the importance of cultural fusion in business success. Even as he continues to build Tokyo Shokudo into a globally recognized brand, he remains as committed to his pursuit of excellence as he was as a young man. Ultimately, his message to other entrepreneurs is to take risks and challenge what others might expect, just as he did by leaving a corporate job to live out his entrepreneurial passion. "If you follow the standard, you will be in the standard," Nishioka concludes. "If you want to be an outlier, you must carve your own path."
