
Grandes, a Kyushu-based publicly traded real estate developer, decided to enter the grid-scale battery storage business through a partnership with GreenEnergy & Company, the companies announced on November 21, 2024.
“Kyushu is a suitable location for installing grid storage batteries, and our company, which is headquartered in Oita Prefecture and has been developing real estate business in the area for many years, is adept at selecting and acquiring candidate sites for installing grid storage batteries,” said Grandes’s statement.
As part of the partnership, GreenEnergy & Company will provide Grandes with a “one-stop BESS service,” covering land acquisition, engineering, procurement, and construction (EPC), operation and maintenance (O&M), and aggregation and trading of the assets’ power on the wholesale and balancing markets. EPC will be handled by GreenEnergy Plus and O&M by GreenEnergy Facilities.
According to the statement, Grandes plans to invest approximately 600 million yen in land acquisition and BESS project development, with the projects being part of the company’s investment real estate business. The statement said, “We believe that the investment return from grid storage batteries is attractive enough to our real estate owners, and it is a new product that also serves as an energy measure toward realizing a low-carbon society.”
Grandes’s announcement follows the Hyogo-based real estate company Wada Kohsan’s announcement of a plan to develop its first grid-scale BESS facility made in late September 2024, showing growing interest in the battery storage business amid growth in Japan’s non-dispatchable power generation capacity.