Kansai Electric Power-led Kan-denchi Fund No. 1 selected its first investment, the 39MW/81MWh Kasugai Power Storage Station in Aichi Prefecture, the utility announced on August 5, 2026.
According to the statement, the facility will be built on an approximately 7,500m² site in Kasugai City and is scheduled to be commissioned in April 2028. It will be owned by the special purpose company (SPC) Kasugai Chikudensho LLC. Kinden, which, through an affiliate, participates in the fund as a general partner, will handle the project’s engineering, procurement, and construction (EPC).
Once completed, the asset will operate under a tolling agreement with Kansai Electric Power. Trading optimization is expected to be handled by its subsidiary E-Flow and operations and maintenance (O&M) by its joint venture with Kinden, K2-BatOM.
Equity in the project SPC will be held by the fund’s portfolio holding company Kan-denchi LLC, which secured project finance from MUFG Bank and is managed by Kanden Asset Management and Mitsubishi UFJ Trust and Banking.
The utility established the fund on March 31, 2026, raising 6.5 billion yen from 10 participating companies to invest in extra high-voltage battery storage projects developed by the group. The vehicle plans to operate for 26 years and targets a portfolio of about 250MW.
