Merchant Bankers (MBK) partnered with REIT Co. to develop grid-scale battery storage projects for sale to third parties, it announced on August 25, 2025. The tie-up follows a similar solar development partnership the two companies launched last month.
According to the statement, REIT plans to use its experience in the solar industry to identify and acquire sites suitable for grid-scale BESS facilities. It will also handle permitting and grid connection applications. MBK will invest in the development. The partners eye selling their projects to RE100 and JCLP (Japan Climate Leaders’ Partnership) members.
The development contract is valid until July 31, 2026, with an automatic one-year extension. MBK and REIT did not disclose target development volume or investment amount under the partnership.
Under their existing solar partnership, REIT handles about 20 projects monthly and MBK plans to invest about 100 million yen between August 2025 and October 2026. The completed projects will be transferred to HT Solar, a unit of the China-based Tangshan Haitai New Energy Technology, at the ready-to-build stage.
REIT is a renewable energy services company established in 2024, which initially focused on residential before expanding into commercial solar. MBK is a TSE Standard-listed investment company looking to diversify away from real estate, which currently forms about 90% of its portfolio.
