What is the content of the project that Itochu Enex is participating in Oita Prefecture?

It is a high-voltage system battery storage project in Hida Town, Sooku District, Oita Prefecture. We will develop and operate a facility with a rated output of 51 MW and a rated capacity of 204 MWh.

Who is the operating entity and what is the equity ratio for this project?

The operating entity is a special purpose company (SPC) called 'Altair LLC', and Itochu Enex has invested 800 million yen, holding an equity ratio of 14.5%.

How will the project be financed?

The project will be financed through a project finance arrangement with Aozora Bank as the arranger, adopting a non-recourse funding scheme.

When is the planned start of operations for the battery storage project?

The operation is scheduled to start around September 2028.

What is the purpose of this project?

The purpose is to address the increasing demand for regulation due to the expansion of renewable energy, stabilize the power supply and demand balance, and strengthen our own revenue base.

Itochu Enex Announces Investment in Grid-Scale Battery Project in Hiji Town, Oita Prefecture

Published May 30, 2026 12:05 AM ・ Updated Jun 13, 2026 11:57 PM ・ 3 min read ・ Source: PR TIMES

Itochu Enex has decided to participate in a large-scale grid battery project (51MW/204MWh) in Oita Prefecture. The company will invest 800 million JPY in SPC LLC Altair. The project, utilizing project finance from Aozora Bank, is scheduled to start operations in September 2028.

Itochu Enex Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Nobuyuki Tabata; hereinafter "the Company") has decided to invest in a special purpose company (SPC) together with three other Japanese companies to participate in a high-voltage grid-scale storage battery project planned in Hiji Town, Hayami District, Oita Prefecture (rated output: 51MW, rated capacity: 204MWh).

This project aims to develop and operate grid-scale storage battery facilities to meet the increasing demand for grid balancing power as renewable energy adoption expands. Grid batteries are expected to serve as essential next-generation power infrastructure for stabilizing the power supply-demand balance. The SPC has secured project financing arranged by Aozora Bank, employing a non-recourse funding scheme with project cash flows as the source of repayment.

Through this project, the Company aims to expand its business domain in the power and utility sector while leveraging its expertise in power business and supply-demand management to strengthen its earnings base.

[Outline of the Investment] - Project: Grid-scale storage battery project in Hiji Town, Oita Prefecture (51MW output, 204MWh capacity) - Operator: LLC Altair - Business Description of Operator: Development, ownership, and operation of grid-scale storage battery facilities - Investment Amount: 800 million JPY - Investment Ratio: 14.5% (the Company's share) - Scheduled Commencement: Around September 2028

The Company will continue to contribute to a sustainable energy society and improve corporate value through initiatives in renewable energy and storage battery businesses.

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Source: PR TIMES
Category: Partnership

Itochu Enex Announces Investment in Grid-Scale Battery Project in Hiji Town, Oita Prefecture

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