What is Itochu & Osaka Gas?
With this business, ITOCHU will design and supply energy storage system and power conditioners from its own procurement network, and will also build and maintain an optimal storage system. Osaka Gas will oversee trading in the energy market and control of the storage plant by utilizing its knowledge of the energy trade.
What is Japan's energy storage policy?
As policy, technology, and decarbonization goals converge, Japan is positioning energy storage as a critical link between its climate targets and energy reliability. Japan’s energy storage policy is anchored by the Ministry of Economy, Trade and Industry (METI), which outlined its ambitions in the 6th Strategic Energy Plan, adopted in .
How will Itochu contribute to the stabilization of Japanese electric systems?
By using the energy from these energy storage batteries in the wholesale electricity market, the balancing market, and the capacity market, ITOCHU will contribute towards the stabilization of Japanese electric systems. Installation will begin in the first half of FY2023 and operations are expected to begin in FY2025.
How is Japan's energy storage landscape changing?
Japan’s energy storage landscape is shifting, pushed by household demand, corporate ESG mandates, and domestic battery manufacturing. The residential lithium-ion market, projected to grow at a CAGR of 33.9% through , remains one of the fastest-expanding segments.
Will Chugoku power turn a Kansai oil-fired power plant into a grid-scale storage facility?
Separately from Kansai EPCO, Chugoku Electric Power also disclosed plans to turn a site formerly occupied by an oil-fired power plant into a grid-scale storage facility.
Why is Itochu working with Osaka Gas & Tokyo century?
ITOCHU will work on this business together with Osaka Gas and Tokyo Century to ensure that the balancing power produced through this business can contribute to the further introduction and stable supply of renewable energy. Open area within the OSAKA GAS NETWORK CO., LTD. Senri Supply Center grounds
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