Japan’s battery storage system manufacturer Power X and the i Squared Capital-backed HEXA Energy Services partnered to jointly develop grid-scale BESS projects across Japan, the latter announced on LinkedIn on March 7, 2025.
According to Power X’s statement issued the following day, the two companies will aim to commission over 10 high-voltage (sub-2MW) assets within the next year. Power X will be in charge of supplying “Mega Power” BESS for the projects and developing the projects, including selecting their sites. Hexa Energy Services will own the facilities and be in charge of trading their power after commissioning.
The companies will aim to commission each project within six months of securing land.
Separately from the new partnership, HEXA Energy Services is currently developing 11 larger-scale BESS projects it was awarded in Japan’s first long-term decarbonization auction. Construction of the first of those, the 29.97MW/130MWh Tagawa Power Station in Tagawa City, Fukuoka Prefecture, begun in late 2024 with commissioning expected in February 2026.
Power X was founded in 2021. Since then, it has grown into one of the main battery systems suppliers for grid-scale battery projects in Japan. The company raised about 29 billion yen to date. Itochu, MUFG Bank, and Toyota Tsusho were among the investors that joined its 5.6 billion yen Series C finalized earlier this year.
Correction (March 10, 2025): The previous version of this article stated the companies would aim to develop 10 assets by the end of March 2026.
