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Mitsubishi HC Capital Energy and Sun Village partner on fully-merchant BESS, aim to develop 100MW

February 4, 2025
Sun Village ML Power Fukui BESS
Sun Village has been increasingly more active in BESS project development. (Image: Sun Village)

Mitsubishi HC Capital Energy and Sun Village signed a partnership agreement to jointly develop fully-merchant grid-scale battery storage, the companies announced on February 4, 2025. While no specific timeline was provided, the companies will target to develop 100MW/400MWh.

According to the statement, Mitsubishi HC Capital Energy will invest in the assets and, among other things, be responsible for selecting equipment and aggregators for the joint projects. “Sun Village will be responsible for the development and construction of the power storage stations, but the plan is to flexibly divide tasks according to circumstances,” said the companies.

The partnership follows a similar partnership between Mitsubishi HC Capital Energy and RS Asset Advisors announced in December 2024.

Mitsubishi HC Capital Energy is a wholly-owned subsidiary of Mitsubishi HC Capital. It manages a portfolio of over 100 solar power plants totaling more than 1.2GW and in August 2024, the company announced its entry into the grid-scale BESS business, starting with a 25MW/50MWh facility in Hokkaido, which it is developing jointly with Samsung and plans to commission in 2027.

Sun Village has been increasingly active in BESS development. In September 2024, it sold three projects in Chubu to JA Mitsui Lease, in November 2024, it partnered with HD Renewable Energy to jointly develop 13 projects in Kanto and Chubu, and last month, it announced its first project in the Hokuriku TSO area. The company plans to grow its BESS portfolio to 250 assets totaling 500MW.

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