Construction Begins on Grid-Connected Battery Energy Storage System in Seta District, Iizuka City, Fukuoka Prefecture - Promoting Grid-Connected Battery Storage Projects in Kyushu to Expand Renewable Energy Introduction and Stabilize Power Supply and Demand -

Tokyu Land Corporation (Headquarters: Shibuya-ku, Tokyo; President and Representative Director: Tatsuaki Tanaka; hereinafter "our company") has established Iizuka Seta Storage Battery Co., Ltd. (hereinafter "the Company") as a joint venture with IBeeT Inc. (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director: Yoichi Murakami; hereinafter "IBeeT") and Akaysha Energy Japan Inc. (Headquarters: Chiyoda-ku, Tokyo; Representative Director: Tony Fullelove; hereinafter "Akaysha"). We are pleased to announce that construction has commenced for the installation of a grid-connected battery energy storage system in the Seta district of Iizuka City, Fukuoka Prefecture.

This project will be implemented utilizing the "Subsidy Program for the Introduction of Renewable Energy and Electricity Storage Systems such as Grid-Connected Battery Storage Systems in FY2024" by the Ministry of Economy, Trade and Industry. Through this initiative, our company will contribute to solving social issues such as the instability of power supply and demand accompanying the expansion of renewable energy introduction towards the realization of a decarbonized society.

Background of the Initiative

With the expansion of renewable energy (hereinafter "RE") introduction towards the realization of carbon neutrality by 2050, the need for battery storage systems that can compensate for the output fluctuations of RE due to weather and time of day is increasing. In Kyushu, in particular, output controls are occurring frequently due to the introduction of a large number of RE power generation facilities, and expectations are high for storage battery power stations that can provide power supply and demand adjustment functions.

Through the storage battery power station project promoted by our company, IBeeT, and Akaysha, we will aim to effectively utilize RE and address the social issue of realizing a decarbonized society.

In the initial stages of this project, our company has been proceeding with securing land and rights related to grid connection. Furthermore, we have been entrusted with project management services by the Company and will provide management support related to the launch of the storage battery power station, including subsidy application procedures and contract adjustments with EPC companies, O&M companies, and battery operation代行 companies (aggregators).

Project Overview

Project Name

Iizuka Seta Storage Battery Facility

Location

2593-108 Gonen-do, Seta, Iizuka City, Fukuoka Prefecture

Rated Output

20MW

Rated Capacity

82MWh

Battery System

Lithium-ion battery

Scheduled Operation Start

FY2027 or later

Project Company Name

Iizuka Seta Storage Battery Co., Ltd.

Date of Establishment

September 30, 2025

Project Company Location

Within AOJ Tax Accountant Corporation, 2-12-6 Kyobashi, Chuo-ku, Tokyo

Representative Director

Yoichi Murakami

Scheme Diagram of This Project

Companies' Initiatives Regarding Battery Storage Business

Tokyu Land Corporation

Under the business brand "ReENE," Tokyu Land Corporation is developing renewable energy projects nationwide, including those under development, totaling 153 projects with a rated capacity of 2,072 MW (as of the end of March 2026).

Furthermore, in collaboration with companies such as ReENE Inc. (100% subsidiary of Tokyu Land Corporation) and ReENE Energy Inc. (wholly owned subsidiary of Tokyu Land Corporation Holdings), we are promoting the business as a group, from the development, AM, and O&M of RE power plants and storage battery facilities to power supply and aggregation.

We aim to respond swiftly and strategically to changes in the market surrounding renewable energy business and further expand our presence in the industry, establishing it as a new pillar of profit alongside the real estate business within the Tokyu Land Corporation Holdings Group.

We launched our grid-connected battery storage business in 2023 and are developing approximately 340 MW nationwide, including the formation of a grid-connected battery storage consortium "Libra LLC" worth approximately 30 billion yen, and the commencement of operation of "ReENE Higashimatsuyama Storage Battery Facility" (2MW) in Higashimatsuyama City, Saitama Prefecture in January 2025.

Leveraging the knowledge gained from past grid-connected battery storage development and this project, the Tokyu Land Corporation Group will continue to expand investment in grid-connected battery storage facilities.

IBeeT

IBeeT Inc. was established in 2021 with investment from ITOCHU Corporation and Tokyo Century Corporation to promote the widespread adoption of distributed power sources for the realization of a sustainable and flexible energy society. The company is involved in the sale and leasing of solar power generation systems, household, industrial, and grid-connected battery storage systems, and the sale of electricity generated by solar power (PPA).

Regarding grid-connected battery storage facilities, IBeeT has participated in battery leasing for two storage battery facilities in Kyushu operated by Nishitetsu Solara Inc. and invested in Gotoku Storage Battery Co., Ltd. in collaboration with ReENE Inc., a subsidiary of Tokyu Land Corporation. The Iizuka Seta Storage Battery Co., Ltd. is IBeeT's second storage battery project in which it has participated.

IBeeT will provide total solutions for the introduction of distributed power sources (products, technical expertise, finance, market operation, after-sales service) to maximize energy value.

Akaysha

Akaysha Energy is a market-leading company in Australia engaged in the development, ownership, and operation of battery energy storage systems (BESS), and is also developing project pipelines in Japan, the United States, and Germany.

Established in 2021 as an independent power producer (IPP) in Australia, the company now has over 200 employees and offices in Melbourne, Sydney, Brisbane, Tokyo, Portland, and Houston.

Akaysha Energy currently provides 5.3 GWh of storage capacity, with 1.9 GW of projects in operation or under construction. Furthermore, approximately 40 GWh of projects are included in the development pipeline.

The company possesses market-leading expertise in energy and capital markets, project development, revenue contracts, operations, and trading. These advanced in-house capabilities enable value maximization at all stages of the BESS lifecycle.

Company Overview

<Tokyu Land Corporation>

Company Name

Tokyu Land Corporation

Head Office Location

1-21-1 Dogenzaka, Shibuya-ku, Tokyo

Representative

Tatsuaki Tanaka, President and Representative Director

Capital

57,552 million yen

Date of Establishment

December 17, 1953

Business Overview

Urban development, housing business, wellness business, industrial co-creation business, environmental energy business, overseas business, etc.

<IBeeT Inc.>

Company Name

IBeeT Inc.

Head Office Location

3 Kanda Neribei-cho, Chiyoda-ku, Tokyo

Representative

Yoichi Murakami, President and Representative Director

Capital

245 million yen

Date of Establishment

April 20, 2021

Business Overview

Sales, leasing, and subscription services for solar power generation systems and battery storage systems

<Akaysha>

Company Name

Akaysha Energy Japan Inc.

Head Office Location

13F Pacific Century Place, 1-11-1 Marunouchi, Chiyoda-ku, Tokyo

Representative

Tony Fullelove, Representative Director

Capital

Not disclosed

Date of Establishment

May 19, 2023

Business Overview

Business development of grid-connected battery storage systems and IPP business