CHC Japan will build a 49MW/231MWh grid-scale battery storage project in Ojiya City, Niigata Prefecture, the company announced on April 17, 2026.
According to the statement, the project, owned by the special purpose company (SPC) Ojiya BESS LLC, will use CATL battery systems and is expected to be commissioned in 2029. It will operate under a 20-year tolling agreement with Tokyo Gas.
The SPC raised 10 billion yen through project bonds arranged by Mizuho Securities. ORIX Bank serves as the trustee and trust lender. Assuming capital expenditures of 50 million yen per MWh, the financing covers approximately 87% of construction costs.
CHC, a joint venture between CATL, Hartree Partners, and Cathay Fortune Corporation, commissioned its first grid-scale battery storage asset in Japan, the 12MW/35.8MWh Matsuyama Power Storage Station owned together with Shikoku Electric Power, in August 2025. The company and its affiliates also secured several projects in the first two long-term decarbonization auctions, but those appear to have been transferred to Stonepeak-backed Kingdom BESS Holdings.
HD Renewable Energy and Bison Energy also announced in April 2026 that they signed tolling agreements with Tokyo Gas. The deals add to the toller’s previously contracted portfolio of projects by Eku Energy, Renova, and Equis.
