West Holdings established a grid-scale battery storage fund on February 27, 2026, and raised about 7 billion yen from eight investors at final close on March 27, 2026, the company announced on April 13, 2026.
According to the statement, Mitsubishi UFJ Morgan Stanley Securities served as the financial advisor and private placement agent for the scheme. Sumitomo Mitsui Trust Panasonic Finance, MUFG Finance and Leasing, Kyushu Leasing Service Group unit KLI, JDC Corporation, Ricoh Leasing, Toda Corporation, and Chugin Energy invested in the fund alongside West Holdings’ subsidiary WestEnergy Solutions via a TK-GK (silent partnership) structure.
The fund aims to acquire high-voltage projects developed and built by West Group, which will also remain in charge of the assets’ operations and maintenance (O&M). The facilities will use TMEIC battery systems. Toshiba, which absorbed its subsidiary Toshiba Energy Systems & Solutions at the beginning of April 2026, will handle aggregation.
West Holdings did not disclose the planned number of assets to be held by the new entity but recent transactions and available capital suggest it could acquire approximately 10 high-voltage projects, 2MW/8MWh each. The Nikkei reported that the fund would be operated for 20 years and that the company was planning to establish another one in August 2026.
The fund comes amid growing interest in grid-scale battery storage investment from major Japanese companies and follows similar recently established schemes, including SPARX Battery Energy Storage System Fund and Tokyu Land-led Libra LLC.
