Japan’s Aozora Bank finances Chitose BESS project in Hokkaido

Daiwa Energy and Infrastructure Company Limited, a wholly owned subsidiary of Daiwa Securities Group Incorporation, has secured project financing from Aozora Bank Limited—a Japanese bank offering retail, corporate, and international finance services—for a grid-scale Chitose BESS project being developed through Chitose Energy Storage limited liability company (LLC), which is wholly owned by Daiwa Energy and Infrastructure, in Hokkaido, Japan. The agreement is for the 38 MW/160.32 MWh grid connected BESS facility. The facility will be located at 4-4 Ryutsu 3 chome and the surrounding areas in Chitose city. Itochu Corporation will supply the BESS, while Kyocera Communication Systems Company Limited is responsible for the EPC works. Osaka Gas Company Limited will manage the operation of the storage facility. The total project cost is expected to reach about JPY10 billion, equivalent to approximately JPY62 million per installed MWh