Tokyo Gas, as the name implies, is a major provider of natural gas to Tokyo and surrounding regions, but it is also an electricity producer and supplier.
In a three-year plan for 2026 to 2028, published last October, the utility said that of a total \1.1 trillion to \1.3 trillion of planned investments, it will invest \430 billion in its energy business line, including maintenance and investment in its gas infrastructure and constructing electricity storage facilities.
In April, as it signed a similar offtake deal for two projects with Hongde Energy Technology Japan, an arm of Taiwanese developer HD Renewable Energy (HDRE), Tokyo Gas said it had increased its BESS investment target.
It had aimed to invest in 1GW of operational BESS capacity by 2030 but had already almost reached this point in the two years since it entered the market. Tokyo Gas upped its target instead to 2GW “in the early 2030s”. This would include a mix of Tokyo Gas-owned projects with offtake deals for third party-owned assets and optimisation services.
“By combining Tokyo Gas’s use and operation of this battery storage facility with our accumulated project development and management capabilities, we aim to maximize asset value through a stable grid-based battery storage business,” Hexa Energy Services said.
