Green Energy & Company secured 1.2 billion yen for its grid-scale battery storage business via convertible bonds and stock warrants to be issued to a fund associated with Simplex Capital Investment, the company announced on June 13, 2025.
According to the statement, Green Energy & Company will issue 800 million yen in five-year unsecured convertible bonds and 414 million yen in five-year stock acquisition rights. The transaction is set to close on June 30, 2025.
The company plans to allocate 790 million yen of the proceeds to its subsidiaries Green Energy Plus and Green Energy NexX to develop and build projects intended for sale. The remaining funds will be allocated to GREEN ACTION, a joint venture with Clover Technologies, in which Green Energy & Company acquired a 51% stake earlier this year. Ninety million yen will be used for aggregation system development and 320 million yen for building BESS facilities to own.
GREEN ACTION plans to deploy the allocated funds by December 2026. The funds allocated to Green Energy Plus and Green Energy NexX are set to be used between July 2025 and June 2030.
The deal follows Green Energy & Company’s target to develop 1GWh of grid-scale storage by April 2029 announced last month.
To date, Green Energy Group has completed engineering, procurement, and construction (EPC) contracts for two projects, including a 2MW/8MWh project in Kagoshima Prefecture it co-owns with JPN ENERGY Integrated System and DMM.com and a 2MW/4MWh project in Chiba Prefecture for an undisclosed customer. It secured contracts for six additional projects, including one with the group’s equity participation.
