TEPCO Holdings and Daiwa House Industry signed a partnership agreement to jointly develop grid-scale battery storage, the companies announced on June 22, 2026.
According to the statement, the partners will target developing 1GW/4GWh nationwide by 2035. Under the tie-up, Daiwa House will handle site acquisitions, project development, and engineering, procurement, and construction (EPC). TEPCO and its group companies will be in charge of battery storage system procurement, electrical construction, and maintenance. TEPCO Energy Partner will aggregate the assets.
The companies plan to establish a special purpose company (SPC) for each of the individual projects and potentially raise funds from external investors.
TEPCO Holdings’ Executive Vice President Masashi Nakazawa said the company aims to leverage its experience with deploying over 1.2GWh of NAS batteries across 100 sites and operating pumped hydroelectric storage assets in the partnership. The utility also holds a 50% interest in the 2MW/9.3MWh METI-subsidized Tsumagoi Power Storage Station, which it developed jointly with NTT Anode Energy.
Daiwa House Industry has developed and operated about 700 renewable power plants with a combined capacity of over 1GW to date. The company is also building its first grid-scale battery storage project, a 1.9MW/9.8MWh METI-subsidized facility in Fukuoka Prefecture.
