Fuyo General Lease partnered with Global Engineering, a demand response and energy service provider, to enter the grid-connected battery storage market, the company announced on December 18, 2024. The former acquired an undisclosed, 20% or higher minority stake in latter.
As part of the partnership, Fuyo Lease will develop and own BESS assets while Global Engineering will aggregate them and provide operational support. Power from the batteries will be traded in the wholesale, balancing, and capacity markets.
The first project the two companies will work on together will be a lithium-ion 1.96MW/7.83MWh facility in the Kyushu TSO area. The “Chikushino Tenzan Storage Station” in Chikushino City, Fukuoka Prefecture, is expected to commission in July 2025 and will be the first grid-scale BESS facility developed by Fuyo Lease without the use of subsidies.
Separately from the latest partnership, Fuyo Lease has been involved in the development of a 50MW/100MWh BESS facility in Sapporo City, Hokkaido, jointly with Daiwa Energy & Infrastructure and Astmax. The project was announced in September 2023 with a planned October 2025 end commissioning. The company is also one of the investors in an 8 billion yen Tokyo government-industry BESS-focused fund.
