Adopted for the Tokyo Metropolitan Government's Support Project for Two Consecutive Years: Tokyu Group Promotes Grid-Scale Battery Storage Project with Total Capacity of 46MW/184MWh, Aiming for Operation by FY2027

Tokyu Corporation (hereinafter "Tokyu") announces that it has been selected for the second consecutive year for the "Support Project for the Introduction of Large-Scale Grid Batteries in Anticipation of the Expanded Introduction of Renewable Energy" implemented by the Tokyo Metropolitan Government. Under this support, Tokyu will promote a grid-scale battery storage project (hereinafter "the Project") with a total development scale of 46MW/184MWh, aiming to commence operations by fiscal 2027.

In this Project, both Tokyu and Tokyu Power Supply Co., Ltd. (hereinafter "Tokyu Power Supply") plan to make investments. Tokyu will be responsible for the construction of the grid-scale battery storage facilities, while Tokyu Power Supply, the energy operator of the Tokyu Group, will manage the operations. Because Tokyu Power Supply has accumulated extensive knowledge regarding power supply and demand management as a retail electricity provider, it will perform operations such as absorbing surplus renewable energy (hereinafter "renewable energy"), providing adjustment capacity, and discharging power during times of tight supply and demand. This will contribute to the stabilization of power supply and the effective utilization of surplus electricity. Both companies plan to develop grid-scale battery storage facilities in stages and continuously across various regions in Japan. The total development scale of the Project is set at 46MW/184MWh, with a total investment plan of approximately 14 billion yen. All grid-scale battery storage facilities are scheduled to begin operations by fiscal 2027. Furthermore, while aligning with the energy policies of the Tokyo Metropolitan Government, the companies aim to maximize business value through collaboration with equipment manufacturers and power-related businesses.

Currently, while the introduction of renewable energy such as solar and wind power is advancing in Japan to achieve carbon neutrality by 2050, supply-demand adjustments and the stable operation of the power grid accompanying fluctuations in power generation have become critical social issues, particularly in metropolitan areas. In March 2026, the first-ever output control (curtailment) of renewable energy was implemented in the Tokyo metropolitan area, highlighting the increasing importance of securing adjustment capacity to utilize renewable energy effectively without waste. Additionally, the Tokyo Metropolitan Government has positioned the development of grid-scale batteries as one of its key policies in tandem with the expansion of renewable energy. Tokyu has decided to enter and promote the grid-scale battery storage project, which perfectly aligns with these regional policy directions.

The Tokyu Group will not only promote "energy storage" through this Project but also simultaneously advance "energy creation," such as solar power development utilizing off-site corporate PPAs. By doing so, it will promote the spread of renewable energy with additionality and contribute to the realization of a decarbonized society.

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## Features of This Project

- 1. High Reliability Backed by Tokyo Metropolitan Government's Policy Support
The project has been selected for the Tokyo Metropolitan Government's support program for two consecutive years, demonstrating high evaluation for both its social significance and feasibility.

- 2. Supporting the Expanded Introduction of Renewable Energy
It contributes to securing the stability of grid power against unstable power sources caused by weather and time of day, which accompany the widespread adoption of renewable energy.

- 3. Contributing to the Stable Operation of the Power Grid
Utilizing a storage capacity of 46MW/184MWh, it contributes to the stabilization of the power grid, including in urban areas.