GSSG Chikuden, a new developer of utility-scale battery storage, has launched with a $400 million commitment from Vision Ridge Partners, a global investor in sustainable assets. The investment will support the development, construction, and operation of battery energy storage systems (BESS) across Japan’s power grid.
Formed as a joint venture between Vision Ridge and GSSG Solar, GSSG Chikuden will be led by the management team from GSSG Solar, leveraging their experience in Japan’s energy market. The company has an existing pipeline of projects with secured grid interconnection rights and will also seek to acquire additional opportunities.
Vision Ridge previously invested in GSSG Solar in 2014, aiding its growth in solar energy projects. GSSG Chikuden will benefit from this experience, as well as Vision Ridge’s track record with battery storage platforms, including its investment in Key Capture Energy until its sale in 2021.
KEY QUOTES:
“As demand for clean power continues to rise, we are proud to launch GSSG Chikuden with the goal of supporting the urgent need for reliable, grid-scale energy storage infrastructure across the Japanese power market. We believe the commitment by Vision Ridge, a recognized investor with a history of backing BESS, helps validate our mission, strategy and team. We look forward to deploying GSSG Chikuden’s regional expertise and technology to execute on the robust pipeline of development opportunities we see.”
Tomakin Archambault, Managing Partner and CEO of GSSG Solar
“We are pleased to expand our decade-long relationship with GSSG Solar with the launch of GSSG Chikuden. We think battery storage assets form a crucial part of the emerging sustainable energy economy globally, and are confident that GSSG Chikuden’s management team, project development experience, and regional relationships will enable it to deliver much-needed energy storage assets to the grid in Japan.”
Reuben Munger, Managing Partner and Chief Investment Officer of Vision Ridge
