#Japan #PowerX #Tsu City #JA Mitsui Lease #JMES BESS ONE

PowerX and JA Mitsui Lease Collaborate on Energy Storage in Mie Prefecture

In a significant step towards achieving a more stable energy infrastructure, PowerX, Inc., based in Okayama Prefecture, has commenced operations at its new energy storage facility in Tsu City, Mie Prefecture. This project, officially launched on March 19, 2023, is in collaboration with JA Mitsui Lease Co., Ltd., headquartered in Tokyo. With PowerX supplying its self-developed energy storage systems, the facility aims to effectively contribute to the supply-demand adjustment market by offering primary balancing power.

Overview of the Ogino Energy Storage Facility

The energy storage site, named the “Ogino Energy Storage Facility” located in Geino Town, Tsu City is the first of three planned energy storage facilities in the Chubu area being developed by both companies. The facility's management lies with JMES BESS ONE LLC, a subsidiary created by JA Mitsui Energy Solutions, led by President Shingo Akutsu. Utilizing the “Storage Facility Toring®” scheme, PowerX will pay a fixed price for balancing power, enhancing predictability regarding business revenues.

“By charging during low demand times and discharging during peak demand, this energy storage system will not only support our retail electricity endeavors but also stabilize the regional energy supply-demand balance and facilitate the wider adoption of renewable energy,” said Masahiro Ito, CEO of PowerX.

Contribution to the Market and Future Plans

The energy storage facility operates by capturing energy when demand is low and releasing it during peak periods, thus providing necessary adjustment capabilities. This not only enhances the effectiveness of PowerX's retail electricity business but also has implications for the wholesale electricity market, capacity market, and balancing market across the Chubu region.

Following the launch of the Ogino facility, both companies are already working on developing additional energy storage sites in Higashiura Town in Aichi Prefecture and Makinohara City in Shizuoka Prefecture. These new installations are also set to commence operations in primary balancing power this spring.

PowerX plans to continue its trajectory of sustainable energy solutions by integrating JA Mitsui Lease's expertise in sales, finance, and innovative environmental solutions with its battery systems and electricity business. This partnership not only aims to foster business development but also strives towards the realization of a decarbonized society.

Technical Details of the Ogino Energy Storage Facility

• - Name: Ogino Energy Storage Facility
• - Location: Geino Town, Tsu City, Mie Prefecture
• - Ownership: JMES BESS ONE LLC
• - Storage Capacity: 7.4 MWh (equipped with three units of the “Mega Power 2700A” storage system)
• - PCS Output: 1.99 MW
• - EPC (Engineering, Procurement, and Construction): Sun Village Co., Ltd.

About PowerX

Founded on March 22, 2021, PowerX, Inc. focuses on the manufacturing and sales of large-scale energy storage systems, the development of mass-produced container data centers, renewable energy supply, and the provision of EV charging station services. The company’s headquarters is located in Tamano City, Okayama Prefecture. For more information visit PowerX website.

About JA Mitsui Lease

JA Mitsui Lease Co., Ltd., established on April 1, 2008, offers various services such as leasing, installment sales, and other financial services, displaying a commitment towards efficient energy solutions. Its headquarters is situated in Tokyo, with additional information available on their website: JA Mitsui Lease website.

About JA Mitsui Energy Solutions

Established on December 11, 2014, JA Mitsui Energy Solutions specializes in investments, management, and operations of energy-related facilities, providing valuable expertise in energy market activities. More details can be found at JA Mitsui Energy Solutions website.

This collaborative initiative by PowerX and JA Mitsui Lease marks a promising advancement in energy management and contributes meaningfully to Japan's ongoing energy needs.