RE100 Denryoku Co., Ltd. Forms Business Alliance with Wave Energy Co., Ltd.

RE100 Denryoku Co., Ltd. (Head office: Chuo-ku, Tokyo; President and CEO: Yudai Konishi; hereinafter "RE100 Denryoku") is pleased to announce that it has concluded a business alliance agreement with Wave Energy Co., Ltd. (Head office: Minato-ku, Tokyo; President and CEO: Yasuhiro Hano; hereinafter "Wave Energy") for the purpose of maximizing the profitability of renewable energy power plants and advanced operations in the electricity market.

■ Background of the Business Alliance

With the expansion of renewable energy introduction, the installation of power generation facilities, mainly solar power, is progressing nationwide. However, renewable energy has the characteristic of fluctuating power generation due to weather conditions, making it important to address fluctuations in power generation, countermeasures against grid constraints, and improving the profitability of power generation businesses. Especially for mega solar power plants, as the transition from the FIT scheme to the FIP scheme progresses, advanced operations based on market prices and utilizing the electricity market are required, and there is a growing need for operational optimization using grid-scale battery storage.

RE100 Denryoku provides advanced electricity operation services utilizing the electricity market and the supply-demand adjustment market as an aggregator that integrally manages electricity supply and demand. On the other hand, Wave Energy has strengths in battery-related technologies and the provision of power equipment, offering hardware solutions that support the sophistication of renewable energy facilities.

The two companies have decided to form a business alliance to jointly develop a solution for retrofitting grid-scale battery storage to existing mega solar power plants, leveraging their respective strengths.

■ Details of the Business Alliance

Through this alliance, we will propose the introduction of grid-scale battery storage to business owners of mega solar power plants and provide solutions aimed at maximizing profits by actively challenging initiatives that utilize the FIP scheme and the supply-demand adjustment market (primary adjustment capability), with the goal of 24-hour operation of power generation facilities.

■ Future Developments

Through this alliance, both companies will promote the introduction of battery storage to existing mega solar power plants and support the sophistication of renewable energy power plant operations and profitability improvement.

In addition, we will expand electricity market operations utilizing grid-scale battery storage and contribute to the stable supply of renewable energy and the sophistication of the electricity system.

2. Company Overview

■ Wave Energy Co., Ltd.

Company Name	Wave Energy Co., Ltd.
Head Office Location	Sumitomo Shiba Building II 1F, 1-5-9 Shiba, Minato-ku, Tokyo
Representative	Yasuhiro Hano, President and CEO
Establishment Date	November 1972
Capital	20 million yen
URL	https://wavee.co.jp/company/

■ RE100 Denryoku Co., Ltd.

Company Name	RE100 Denryoku Co., Ltd.
Head Office Location	L.Biz Nihonbashi 8F, 2-9-10 Nihonbashi, Chuo-ku, Tokyo
Representative	Yudai Konishi, President and CEO
Establishment Date	March 2016
Capital	375 million yen
URL	https://www.re100-denryoku.jp

▶Original release here