RE100 Power Co., Ltd. (Headquarters: Chuo-ku, Tokyo, Representative Director and President: Yudai Konishi, hereinafter "RE100 Power") announces that it has entered into a business alliance agreement with Wave Energy Inc. (Headquarters: Minato-ku, Tokyo, Representative Director and President: Yasuhiro Hano, hereinafter "Wave Energy") aimed at maximizing the profitability of renewable energy power plants and their advanced operation in the electricity market.
Background of the Business Alliance
With the expanding introduction of renewable energy, the installation of power generation facilities centered on solar power is progressing nationwide. On the other hand, since renewable energy has the characteristic of fluctuating power generation depending on the weather and other factors, responding to fluctuations in power generation, measures against grid constraints, and further improving the profitability of power generation operators have become important issues. Especially in mega solar power plants, as the transition from the FIT system to the FIP system progresses, power generation operations based on market prices and advanced operations utilizing the electricity market are required, and the need for operational optimization utilizing grid storage batteries is increasing.
As an aggregator that integratedly manages power supply and demand, RE100 Power provides advanced power operation services utilizing the electricity market and the supply and demand adjustment market. Meanwhile, Wave Energy has strengths in providing storage battery-related technologies and power equipment, and provides hardware solutions that support the advancement of renewable energy facilities.
Both companies have decided to form a business alliance with the purpose of jointly developing solutions for retrofitting grid storage batteries to existing mega solar power plants, utilizing their respective strengths.
Details of the Business Alliance
Through this alliance, we will propose the introduction of grid storage batteries to business owners who own mega solar plants, and while actively taking on the challenge of initiatives utilizing the FIP system and the supply and demand adjustment market (primary adjustment power), we will provide solutions that aim to maximize profits by targeting 24-hour operation of power generation facilities.
Future Developments
Through this alliance, both companies will promote the introduction of storage batteries to existing mega solar power plants and support the advancement of operations and improvement of profitability of renewable energy power plants.
In addition, we will expand electricity market operations utilizing grid storage batteries and contribute to the stable supply of renewable energy and the advancement of power systems.
2. Company Profile
Wave Energy Inc.
Company Name
Wave Energy Inc.
Head Office Location
Sumitomo Shiba Building II 1F, 1-5-9 Shiba, Minato-ku, Tokyo
Representative
Representative Director and President Yasuhiro Hano
Date of Establishment
November 1972
Capital
20 million yen
URL
https://wavee.co.jp/company/
RE100 Power Co., Ltd.
Company Name
RE100 Power Co., Ltd.
Head Office Location
L.Biz Nihonbashi 8F, 2-9-10 Nihonbashi, Chuo-ku, Tokyo
Representative
Representative Director and President Yudai Konishi
Date of Establishment
March 2016
Capital
375 million yen
URL
https://www.re100-denryoku.jp
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Company Profile
Company Name: RE100 Power Co., Ltd. Head Office Location: L.Biz Nihonbashi 8F, 2-9-10 Nihonbashi, Chuo-ku, Tokyo Representative: Representative Director and President Yudai Konishi Date of Establishment: March 2016 Capital: 375 million yen Business Overview: Renewable energy business URL: https://www.re100-denryoku.jp
FACT BOX
- Source: PR TIMES
- Category: Partnership