Erex will take an undisclosed stake in Global Engineering and partner with the company on power retail and renewable energy businesses under a newly signed capital and business alliance agreement, it announced on July 1, 2025.
Under the new alliance, the companies plan to partner on storage and generation asset development, PPAs, supply and demand forecast accuracy improvement, and power trading optimization. For renewable assets, Global Engineering plans to purchase output of Erex-led projects for resale to consumers. They are also eyeing collaboration in the isolated Okinawa TSO area.
Global Engineering has primarily been involved in demand response, power retail, and balancing group operation. Recently, it also commissioned its first grid-scale battery storage facility, which it developed jointly with Banpu Japan, and signed a partnership with Fuyo Lease under which it is working on a high-voltage project in Kyushu.
Erex is active in biomass power plant development, operation, and fuel sourcing, as well as power retail through EverGreen Marketing, a 66:34 joint venture with TEPCO Energy Partner. It holds stakes in five assets totaling 418MW with more under development. In June 2025, the company said it will aim to expand into renewable asset aggregation. It disclosed two deals so far, for aggregating solar plants under PPAs with JR East and CityLight, signed by EverGreen.
The alliance follows several other partnerships between major companies involved in energy, such as Tokyo Century-TESS Holdings and Mitsubishi Electric-HD Renewable Energy-Looop, as they seek to leverage each other’s strengths in Japan’s rapidly evolving market environment, which is shifting toward corporate PPAs and grid-scale storage projects.
