Japan s new energy storage plant is running

When will ORIX Energy Storage Plant be built?

TOKYO, Japan – May 30, 2024 – ORIX Corporation (“ORIX”) announced today that it will be constructing Maibara-Koto Energy Storage Plant, one of Japan’s largest *1 energy storage plants, in Maibara, Shiga. Construction will begin in November 2024, with the commencement of operations scheduled for 2027.

Will Orix build the world's largest power storage facility?

Japanese financial services group Orix is set to build one of the country’s largest power storage facilities, partnering with Tesla Inc. for the supply of industrial-scale batteries. The project in Maibara, Shiga prefecture, will incorporate Tesla’s Megapack units with a total capacity of 548 megawatt-hours.

Why are Japanese utilities investing in pumped hydro power plants?

Utilities are also making investments in existing plants so they are more responsive to contemporary energy needs. Japan already has the world’s second largest pumped hydro generating capacity and by far the largest per capita.

When will Maibara-Koto energy storage plant be built?

Construction will begin in November 2024, with the commencement of operations scheduled for 2027. With a rated output of 134 MW and rated capacity of 548 MWh *2, Maibara-Koto Energy Storage Plant is a power grid *3 energy storage plant that will be constructed after ORIX bid and won at a long-term decarbonization energy auction.

Will pumped storage hydropower bring balance and stability to Japan's grid?

Pumped storage hydropower, a late 19th century technology that was largely ignored by the markets for decades, is now emerging as pivotal to bringing balance and stability to Japan’s grid as the nation both reboots nuclear energy and moves to rely more on solar and wind generation.

Can Orix capitalize on Japan's Energy Transition?

For Orix, which has diverse interests spanning leasing, real estate, and renewable energy, the Maibara project marks its most significant move into the power storage sector, positioning the company to capitalize on Japan’s energy transition. Financial services firm taps U.S. technology for renewable energy push in Shiga prefecture .