J-Holdings entered into a grid-scale battery storage capital and business alliance with Recharge Power on January 28, 2026. The company said it would issue stock warrants to the new partner and several other investors on February 13, 2026, raising up to about 4 billion yen if fully exercised.
Under the alliance, J-Holdings aims to acquire seven high-voltage grid-scale battery storage assets from Recharge Power’s special purpose company (SPC) Future Grid1 LLC over the next three years, at approximately 500 million yen each. The Taiwan-based partner also plans to provide a 100 million US dollar line of credit, which would allow the Japanese company to finance the acquisition of approximately 30 additional projects.
The TSE Standard-listed company said the alliance allows it to expedite its entry into grid-scale battery storage, which it first announced in June 2025. It plans to sign the acquisition agreements for the first two Recharge Power-developed assets in March 2026. Both are located in Miyazaki Prefecture in the Kyushu TSO area and are expected to be completed and handed over in December 2026 and February 2028, respectively.
Recharge Power’s unit REENS will handle the engineering, procurement, and construction (EPC) of the projects. It will also remain in charge of operations and maintenance (O&M) following commissioning. J-Holdings plans to task Recharge Power with trading optimization once its Japan subsidiary launches aggregation service.
In addition to Recharge Power, J-Holdings will also issue stock warrants to EVO FUND, SIC ENERGY SINGAPORE, and two individual investors including the company’s representative director. If all warrants are exercised, EVO FUND would become the largest shareholder with a 28.42% stake and Recharge Power and the three other new investors would each hold about 10% to 11%.
Separately from its partnership with Recharge Power, J-Holdings also continues to negotiate the acquisition of two projects in Saitama Prefecture that are targeted for May 2027 COD. The company’s entry into grid-scale battery storage is part of its efforts to turn around its recent negative performance, which raised concerns about compliance with listing requirements.
