Nozomi Energy secured non-recourse project financing from Aozora Bank for its 50MW/196MWh Nozu grid-scale battery storage project in Usuki City, Oita Prefecture, the company announced on September 14, 2026.
According to the statement, construction is expected to begin shortly, with completion targeted for Q3 2028. The asset will operate under a 37.02MW (derated) 20-year capacity contract secured in the FY2023 long-term decarbonization auction (LTDA). The loan amount was not disclosed.
Nozu is Nozomi Energy’s first grid-scale battery storage asset to reach financial close. The developer said it expects another 50MW facility to achieve the milestone later in 2026. LTDA results and information previously disclosed by the company suggest it is likely to be a same-scale battery system in Nogata City, Fukuoka Prefecture.
The $500 million platform, launched in 2023 by Actis, owns an approximately 900MW portfolio that includes 521MW of operational assets. It targets expanding its pipeline to 1.1GW of solar, onshore wind, and battery storage capacity by 2027.
Aozora Bank has also recently provided project finance for the Itochu Enex-led 51MW/204MWh Oita Hiji Power Storage Station and a 38MW/160MWh Daiwa Energy & Infrastructure project in Hokkaido, both of which are expected to be merchant assets.
