Stonepeak and CHC have announced the creation of a platform focused on the development, construction, and operation of energy storage projects in Japan. The platform will focus on developing, constructing, and operating BESS projects to accelerate Japan’s power industry decarbonisation by leveraging Stonepeak’s investment experience in Japan’s renewable sector and CHC’s technical expertise.
Furthermore, the Stonepeak / CHC platform was recently awarded a 20-year fixed revenue capacity market contract for four BESS projects as part of the Japanese government’s inaugural Long-term Decarbonization Auction. The platform will initially aim for 1 GW of BESS projects in Japan over the next five years.
In March 2024, Ørsted struck a deal with Stonepeak to sell off a part of its ownership in a portfolio of four US onshore wind farms with a total capacity of 957 MW. This is Ørsted’s second significant divestment of multiple assets in the US as part of its ongoing farm-down strategy. The transaction is valued at approximately $300 million.
