Hokuriku Electric Power and Mizuho Leasing unit ML Power will jointly develop Funahashi Power Storage Station, a 1.99MW/8.01MWh grid-scale battery project in Funahashi Village, Toyama Prefecture, the companies announced on April 23, 2026.
According to the statement, the ML Power-developed project will be owned by Funahashi Chikudensho LLC, a special purpose company (SPC) in which each partner will hold a 50% economic interest. It is expected to be commissioned in April 2027.
Funahashi Power Storage Station is Hokuriku Electric Power Group’s first grid-scale battery project. The utility’s affiliate Hokuriku Electrical Construction will handle engineering, procurement, and construction (EPC). Hokuden Techno Service will be in charge of safety management. Hokuriku Electric Power Biz Energy Solution is expected to aggregate the asset once operational.
Hokuriku Electric Power plans to use the facility to accumulate the data and know-how required to support third parties with building and operating their projects and providing aggregation services. The utility follows several others, such as TEPCO, Kansai Electric Power, and Shikoku Electric Power, in expanding into grid-scale storage.
ML Power holds stakes in multiple other battery projects, including a pair of operational high-voltage assets owned together with Tohoku Electric Power and subsidized by the Tokyo Metropolitan Government and a 10MW/40MWh METI-subsidized facility expected to be commissioned in FY2029.
