HEXA Renewables, a Singapore-based renewable asset developer and operator owned by I Squared Capital, formed a strategic partnership with and invested an undisclosed amount in Bison Energy, a Tokyo-based developer, the two companies announced on November 20, 2024.
While both companies are active both inside and outside of Japan, the partnership will focus on accelerating the development of Bison Energy’s projects in Japan. “Under the terms of the agreement, HEXA Renewables will work together with Bison to further develop and construct its pipeline of solar and BESS projects in Japan,” said the statement.
HEXA Renewables’ Group Chief Commercial Officer Vince Choi said, “The company’s expertise and track record in the renewable energy sectors is impressive. We look forward to advancing Bison’s clean energy project pipeline in Japan, fostering mutual growth and a win-win outcome.”
Bison Energy was established in 2016 and since then it has worked on 64 mostly high-voltage projects including 26 currently in operation, 10 being prepared for or under construction, and 28 under development; approximately a third of those has been sold. Prior to the investment from HEXA Renewables, Bison Energy also secured investment from the Japanese developer Shizen Energy, with which it partnered on both domestic and international activities.
HEXA Renewables has also been increasingly active in Japan, having been awarded numerous projects in auctions in addition to developing smaller projects. Notably, it was the top battery storage performer in the country’s first Long-Term Decarbonization Auction held last fiscal year, securing contracts for 11 projects totaling 342MW. Construction on the first of those projects started last month.
