Participation in Grid-Scale Battery Storage Consortium "Godo Kaisha Libra"

Nippon Steel Kowa Real Estate Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director and President: Masahiro Miwa; hereinafter "Nippon Steel Kowa Real Estate") is pleased to announce its investment and participation in the grid-scale battery storage consortium "Godo Kaisha Libra" (hereinafter "this consortium").

This consortium is a joint venture formed by the Tokyu Fudosan Group on March 26, 2026, with eight major Japanese companies: Tokyu Fudosan Co., Ltd., IBeeT Co., Ltd. (an Itochu Corporation and Tokyo Century Group company), Fuyo General Lease Co., Ltd., Nomura Real Estate Development Co., Ltd., Maeda Corporation, Nippon Steel Kowa Real Estate, Sumitomo Mitsui Trust Bank, Limited, and Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. Through this consortium, we will promote the operation of six extra-high voltage grid-scale battery storage facilities (total project cost approximately 30 billion yen, output approximately 174 MW).

The battery storage facilities are scheduled to commence operation sequentially from fiscal year 2027 onwards, aiming to contribute to the widespread adoption of renewable energy by supplying insufficient balancing power sources.

■ Background of Formation

As global efforts towards carbon neutrality accelerate, the introduction of renewable energy (hereinafter "RE") is also becoming more active in Japan. However, with the expansion of RE introduction, challenges have emerged, such as the generation gap between day and night, and the ability to respond to short-cycle and subtle fluctuations in generation and demand.

To address these challenges, utilizing storage batteries enables "peak shifting" to adjust electricity usage times and measures to curb RE output, thereby contributing to the wider adoption of RE. Furthermore, they are effective as backup power sources for BCP (Business Continuity Plan) measures during emergencies. In particular, grid-scale storage batteries are facilities specialized in stabilizing the power grid, adjusting the supply-demand balance of electricity through three electricity markets—the wholesale market, the capacity market, and the supply-demand adjustment market—to achieve stable power supply.

■ Overview of this Consortium

1. List of Participating Companies

2. Target Projects (6 locations nationwide, total output approximately 174MW)

■ Nippon Steel Kowa Real Estate's Renewable Energy Business

As a comprehensive developer, Nippon Steel Kowa Real Estate believes its mission is to realize a sustainable society and cities, and has set "consideration for the global environment," "ensuring safety and security," and "responding to social changes" as company-wide material issues.

Furthermore, as a concrete action guideline linked to "consideration for the global environment," the company aims to achieve "100% renewable energy for electricity used in its own buildings" by fiscal year 2030, and is working on introducing renewable energy in its own buildings and creating renewable energy through solar power generation.

In 2024, the company began initiatives for virtual PPAs*1 using the FIP scheme, and in its LOGIFRONT series of logistics businesses, it has introduced on-site PPA*2 and off-site PPA*3 schemes at LOGIFRONT Urayasu and LOGIFRONT Sayama to maximize the utilization of electricity generated by solar power facilities installed on facility roofs, thereby promoting the use of renewable energy.

*1 PPA: Abbreviation for Power Purchase Agreement. A contract format where electricity consumers procure renewable energy directly from power generators.

*2 On-site PPA: Supplying renewable energy by installing power generation facilities on the roof of an electricity consumer, etc.

*3 Off-site PPA: Unlike on-site PPA, supplying renewable energy to demand sites other than the generation site via the transmission grid.

Nippon Steel Kowa Real Estate believes that storage batteries, by possessing power adjustment functions, will contribute to the stable supply of generated electricity, the future conversion of electricity used in its own buildings to renewable energy, and ultimately to "urban development that considers nature and the environment."

Furthermore, the company anticipates the function of storage batteries as emergency power sources during disasters, contributing to BCP measures including accepting people who have difficulty returning home. With a view to utilizing them for realizing "resilient urban development where people can live safely and securely," the company will promote its battery storage business and initiatives within this consortium.

■ List of Investors

Tokyu Fudosan Co., Ltd.

Representative: Tatsuaki Tanaka, Representative Director and President

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

URL: https://www.tokyu-land.co.jp/

IBeeT Co., Ltd.

Representative: Yoichi Murakami, Representative Director and President

Address: 3 Kanda Neribeicho, Chiyoda-ku, Tokyo

URL: https://www.ibeet.co.jp/

Fuyo General Lease Co., Ltd.

Representative: Hiroaki Oda, Representative Director and President

Address: Sumitomo Fudosan Kojimachi Garden Tower, 5-1-1 Kojimachi, Chiyoda-ku, Tokyo

URL: https://www.fgl.co.jp/

Nomura Real Estate Development Co., Ltd.

Representative: Daisaku Matsuo, Representative Director and President

Address: BLUE FRONT SHIBAURA TOWER S, 1-1-1 Shibaura, Minato-ku, Tokyo

URL: https://www.nomura-re.co.jp/

Maeda Corporation

Representative: Soji Maeda, Representative Director and President

Address: 2-10-2 Fujimi, Chiyoda-ku, Tokyo

URL: https://www.maeda.co.jp/

Nippon Steel Kowa Real Estate Co., Ltd.

Representative: Masahiro Miwa, Representative Director and President

Address: Akasaka Intercity AIR, 1-8-1 Akasaka, Minato-ku, Tokyo

URL: https://www.nskre.co.jp/

Sumitomo Mitsui Trust Bank, Limited

Representative: Kazuya Oyama, Director and President

Address: 1-4-1 Marunouchi, Chiyoda-ku, Tokyo

URL: https://www.smtb.jp/

Sumitomo Mitsui Trust Panasonic Finance Co., Ltd.

Representative: Keiichi Hamano, Director and President

Address: Shibance S-kan, 1-2-3 Shibaura, Minato-ku, Tokyo

URL: https://www.smtpfc.jp/