A total of 27 projects was awarded 34.6 billion yen in subsidies through METI’s FY2024 program for supporting the expansion of renewable energy through introduction of energy storage, Sustainable Open Innovation Initiative (SII), the association responsible for implementing the program, announced in late December 2024.
While both BESS and electrolysis equipment are eligible to apply for the subsidy, all awarded projects were the former. The subsidy, which covers between one and two thirds of equipment and construction costs depending on technology, was open for applications between the end of August and the end of October 2024. Projects 1MW and larger spanning up to three fiscal years were eligible.
The renewables-rich Hokkaido and Kyushu TSO areas saw the largest number of awarded projects with nine and six, respectively. Four were awarded in the Tokyo TSO area, three in Chubu, two in Kansai and Chugoku each, and one in Tohoku.
Four companies including Q.ENEST Holdings, Banpu Japan, Mitsuuroko Green Energy, and Kurihalant were awarded two projects. Additionally, Toyota Tsusho group was awarded two projects, with Eurus Energy Holdings and Terras Energy, which are expected to be merged in April 2025, each having been awarded one.
Eurus Energy was awarded the highest amount, approximately 3.35 billion yen, for a project in Hokkaido. The smallest awarded amount was approximately 115 million yen for a Q.ENEST Holdings project in Tochigi Prefecture.
Recipients of METI’s FY2024 Subsidy for Grid-Scale BESS Projects
- Hokkaido TSO area
- Japan Petroleum Exploration (1,862,934,438 yen)
- Terras Energy (820,233,710 yen)
- Tokyo Century, JFE Engineering (1,558,110,000 yen)
- Yonden Engineering, Aoki Asunaro Construction, JR East, JICN, JR-EAST Energy Development, WWB, Chubu Plant Service, Mitsubishi Research Institute, and GS Yuasa (1,046,732,850 yen)
- Tokyo Gas, Okaya & Co. (2,257,148,025 yen)
- Mitsuuroko Green Energy (162,322,823 yen)
- Mitsuuroko Green Energy (162,330,738 yen)
- Eurus Energy Holdings (3,346,205,000 yen)
- NTT Anode Energy (1,947,501,895 yen)
- Tohoku TSO area
- Tokyo TSO area
- Kurihalant in Ibaraki Prefecture (132,305,066 yen)
- Q.ENEST Holdings in Tochigi Prefecture (113,612,197 yen)
- Q.ENEST Ready in Chiba Prefecture (115,343,964 yen)
- Enewill in Kanagawa Prefecture (2,762,814,750 yen)
- Chubu TSO area
- Shizuoka Gas & Power in Shizuoka Prefecture (1,224,469,000 yen)
- Diamond Energy Storage No. 1 (Mitsubishi-affiliated) in Aichi Prefecture (2,808,885,577 yen)
- au Renewable Energy in Mie Prefecture (2,834,005,607 yen)
- Kansai TSO area
- Itami Sangyo in Hyogo Prefecture (1,127,565,350 yen)
- Kurihalant in Hyogo Prefecture (280,918,601 yen)
- Chugoku TSO area
- ML Power in Hiroshima Prefecture (1,189,500,000 yen)
- Chugoku Electric Power in Yamaguchi Prefecture (1,959,900,000 yen)
- Kyushu TSO area
- NCS RE Capital-affiliated Renewable Energy Development in Fukuoka Prefecture (168,326,182 yen)
- Daiwa House in Fukuoka Prefecture (140,093,905 yen)
- J-POWER in Fukuoka Prefecture (736,620,938 yen)
- Tokyu Land, IbeeT, and Akaysha Energy Japan in Fukuoka Prefecture (1,544,006,935 yen)
- Shin-Idemitsu in Kumamoto Prefecture (322,209,999 yen)
- Banpu Japan, Fuyo General Lease, and Global Engineering in Miyazaki Prefecture (2,072,676,500 yen)
