Banpu NEXT, a leading Net Zero Solutions provider in the Asia-Pacific region, is advancing its utility-scale battery energy storage system (BESS) initiatives by expanding its portfolio with a target of over 1 GWh total capacity in Japan by 2030. The company’s first flagship Tono project in Japan has completed grid connection and reached commercial operation. Additionally, it will create a validated revenue model and participate in energy market opportunities. With this momentum, Banpu NEXT, the first Thai company to enter Japan’s energy trading market, is becoming a key player in utility-scale battery storage, bolstering comprehensive renewable energy reliability strategies and catalyzing the country’s decarbonization efforts.
Leveraging the success of the 58 MWh Tono project, which has completed its grid connection with Tohoku EPCO and is now commercially active, the company is developing its additional projects in Japan, including the 104 MWh Aizu in Fukushima Prefecture, the 104 MWh Tsuno in Miyazaki Prefecture, and the 8 MWh Kamigumi-Tokyo in partnership with Kamigumi, Banpu NEXT’s first grid-scale BESS, which obtained a subsidy from the Tokyo Metropolitan Government. Meanwhile, Tono, Aizu, and Tsuno benefit from substantial government support, with Japan’s Ministry of Economy, Trade and Industry (METI) providing subsidies for their implementation. All three Japanese projects currently under construction are scheduled to commence full operations by 2028. In addition, Banpu NEXT is scaling its BESS investment with further pipeline projects to achieve our commitment.
Mr. Smittipon Srethapramote, Chief Executive Officer of Banpu NEXT Co., Ltd., said: “Our strategic entry into the utility-scale BESS market marks a significant milestone in Banpu NEXT’s development journey. Our distinction in this competitive landscape stems from our integrated approach across the entire battery value chain and our deliberate market selection in a high-potential country. Consider Japan, where the BESS market*, valued at USD 593.2 million in 2023, is forecasted to achieve a remarkable 32.1% CAGR by 2030. This impressive growth is largely driven by various factors** such as the nation’s strong government policies, ambitious decarbonization targets, and rapidly increasing energy storage demand from corporate sectors. This collective drive underscores the essential role BESS plays in achieving Japan’s ambitious climate and energy security objectives, confirming this country as a strategic market with accelerating demand for large-scale energy storage solutions. Our BESS incorporates advanced technologies with a key competitive advantage in AI-driven operational controls that optimize profitability from merchant markets through sophisticated data analytics. These systems not only maintain grid stability but also facilitate innovative revenue-stacking models that harness price differentials in energy markets, including arbitrage, balancing, and capacity markets. This strategy, combined with our strategic partnerships and comprehensive energy solutions capabilities, creates our unique market position.”
Banpu NEXT continues to explore the possibility of investment in other high-growth potential countries in the Asia-Pacific region. The company’s BESS expansion strengthens its renewable energy ecosystem to close the loop across the value chain and establishes our position as a leading inclusive infrastructure service provider in the renewable energy market across the Asia-Pacific region.
“Looking ahead, Banpu NEXT will harness the expertise in innovative Net Zero solutions to fortify our BESS business and total energy solutions, aligning our business direction to address rapidly evolving energy technology transformation trends and propel the region’s transition toward a low-carbon future,” concluded Mr. Smittipon.
Reference:
* Japan Battery Energy Storage Systems Market Size & Outlook Grand view research
** Japan Energy Storage Policies and Market Overview
Media Contact:
Banpu NEXT Co., Ltd.,
Manapah Pongtanesuan, Brand and Marketing Communications, 02-095-6535, Manapah_P@banpunext.co.th
Kankhachee Meecharoen, Brand and Marketing Communications,02-095-6544, Kankhachee_M@banpunext.co.th