Bess definition battery Japan

What is battery energy storage system (BESS)?

Battery energy storage system (BESS) projects offer a critical solution to the intermittency issue, enhancing grid stability and bolstering the resilience and reliability of the electricity supply system. In August 2022, Prime Minister Fumio Kishida advocated for an acceleration of standalone BESS projects.

What does Bess stand for?

It is now among the many Japanese and international players seeking to develop large-scale battery energy storage system (BESS) assets, and is partnered with the UK’s Gore Street Capital to manage a fund promoting storage and renewable energy in collaboration with the Tokyo Metropolitan Government.

Who owns the battery storage facility in Japan?

Project financing has been arranged by MUFG Bank representing the first battery storage project they have arranged finance for in Japan. Under the offtake agreement, Eku Energy will own the BESS while Tokyo Gas will own 100% of its operating rights for 20 years, with Eku Energy responsible for the ongoing maintenance of the facility.

How are Bess systems used and commercialized?

Depending on their design and size, they can be used and commercialized in very different ways. In the energy industry, BESS are used for a variety of purposes such as balancing the supply and demand of energy in the grid, providing ancillary services, and enabling the integration of renewable energy sources.

How much electricity can a Bess store?

Once live the BESS will be capable of storing enough electricity to power approximately 63,000 households for four hours. Project financing has been arranged by MUFG Bank representing the first battery storage project they have arranged finance for in Japan.

When will a Bess battery be built?

Construction is scheduled to begin in the second half of 2024 and the battery is expected to begin operating in July 2026. Once live the BESS will be capable of storing enough electricity to power approximately 63,000 households for four hours.