Japanese company ORIX Corporation has announced plans to construct the Maibara-Koto energy storage plant, with a rated output of 134MW and a capacity of 548 megawatt hours.
The development will be one of the largest energy storage facilities in Japan.
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To be situated in the city of Maibara in Shiga prefecture, the Maibara-Koto plant will commence construction in November 2024 and begin operations in 2027.
The project has been designed to provide enough energy to power approximately 48,000 households daily.
ORIX secured the project through a competitive decarbonisation energy auction from the Organisation for Cross-regional Coordination of Transmission Operators, Japan (OCCTO), which promotes investment in low-carbon energy solutions and guarantees a fixed income for two decades, thus ensuring long-term profitability for such initiatives.
The plant will be built on a leased 26,000m² area, provided by Maibara City.
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By GlobalDataORIX plans to install 140 containers of lithium-ion storage batteries on the site.
The establishment of the plant is part of Japan’s broader strategy to promote renewable energy as a primary power source to achieve carbon neutrality by 2050.
Renewable energy sources such as solar and wind are subject to weather-related fluctuations, posing challenges to the stable supply of electricity.
ORIX ventured into the energy storage plant business in 2022 and has been working on expanding its presence across Japan.
The company collaborates with partners including local governments and businesses, to optimise the use of public and private lands for such projects.
In May 2024 ORIX also commenced operations at the Minami-Kayabe geothermal power plant in Hokkaido Prefecture. It has a 6.5MW capacity and is the largest binary cycle geothermal power plant in the country.
