Nozomi Energy Wins Two Projects in Japan’s First Long-term Decarbonisation Capacity Auction
- First battery projects being added to rapidly growing renewables portfolio
TOKYO, 7 May 2024: Nozomi Energy, a Japan-focused renewables platform established by Actis, is delighted to announce its selection as one of the winning companies in Japan’s first ever Long-term Decarbonisation Capacity Auction, securing two Battery Energy Storage System (BESS) projects, each with an initial installed capacity of close to 200MWh.
This significant achievement follows Nozomi Energy’s impressive success in establishing an operational project portfolio of 100MW within 10 months of commencing operations.
As Japan aspires to achieve carbon neutrality by 2050 and is therefore targeting a renewable energy share of 36-38% of total power production by 2030 — doubling the share from 2019 — Nozomi Energy’s strategic contributions are playing an important role in the nation’s green energy trajectory. The successful bid for two BESS projects underscores Nozomi Energy’s commitment to bolstering Japan’s renewable energy infrastructure and reducing carbon emissions.
These BESS projects are crucial for enhancing grid stability and facilitating the integration of renewable energy, aligning with Japan’s ambitious environmental and energy sustainability goals. Through these projects, Nozomi Energy reaffirms its role in supporting Japan’s transition to a sustainable energy future.
Jose Antonio Millan Ruano, CEO of Nozomi Energy, commented: “We are honoured to be a part of Japan’s path to decarbonisation and renewable energy adoption. Winning these projects in the capacity auction is a testament to our dedication and our contribution to Japan’s energy transformation.”
Tareq Sirhan, Head of Energy for North Asia, Energy Infrastructure at Actis, added: “The fact Nozomi Energy has won this auction demonstrates the expertise and credibility its team has built in the market after just one year. Nozomi Energy won the auction because its proposed capacity payments were lower – this was key for the auction and shows how Nozomi Energy is contributing to Japan’s energy transition not just by providing essential energy services, but by doing so at competitive rates. Battery storage will play a critical role in the energy transition so it’s excellent to see Nozomi Energy leading the way in making this happen.”