When will a Bess project be funded in Japan?

The Japanese government allocated JPY13 billion for a subsidy program for standalone BESS construction from February to March 2022. The market was surprised that the scheme was short-lived, as the full amount of funding has already been granted to projects, and is waiting for indications as to whether there will be further rounds.

Is Japan a Bess market?

Japan is one of the most talked-about emerging grid-scale BESS markets in Asia and featured prominently at the Energy Storage Summit Asia.

What does Bess stand for?

It is now among the many Japanese and international players seeking to develop large-scale battery energy storage system (BESS) assets, and is partnered with the UK’s Gore Street Capital to manage a fund promoting storage and renewable energy in collaboration with the Tokyo Metropolitan Government.

Who will supply the Bess project?

Toshiba Mitsubishi Electric Industrial Systems Corporation will supply the BESS solution for the project, and Nippon Koei Energy Solutions will provide engineering consulting. The project will create an estimated 120 jobs over the course of its lifespan. Gurīn Energy Pte Ltd. is a Singapore-headquartered renewable energy developer.

What are the risks associated with a Bess project in Japan?

Given the infancy of Japan’s standalone BESS market, stakeholders should consider the following, non-exhaustive, list of risks: : * Cost of critical materials – The cost of critical metals, such as nickel, cobalt, and lithium, significantly influences BESS project costs.

Can a Bess asset be commercialised in Japan?

Bennett agreed with Morely’s position that the LTDA is not the only way to commercialise a BESS asset in Japan, adding that it is also not the only way to get debt finance, as there are numerous potential large corporate offtakers in the country.