RE100 Power Co., Ltd. and Wave Energy Inc. Enter into Business Alliance

RE100 Power Co., Ltd. (Headquarters: Chuo-ku, Tokyo, Representative Director and President: Yudai Konishi, hereinafter "RE100 Power") announces that it has entered into a business alliance agreement with Wave Energy Inc. (Headquarters: Minato-ku, Tokyo, Representative Director and President: Yasuhiro Hano, hereinafter "Wave Energy") aimed at maximizing the profitability of renewable energy power plants and their advanced operation in the electricity market.

■ Background of the Business Alliance

With the expanding introduction of renewable energy, the installation of power generation facilities centered on solar power is progressing nationwide. On the other hand, since renewable energy has the characteristic of fluctuating power generation depending on the weather and other factors, responding to fluctuations in power generation, measures against grid constraints, and further improving the profitability of power generation operators have become important issues. Especially in mega solar power plants, as the transition from the FIT system to the FIP system progresses, power generation operations based on market prices and advanced operations utilizing the electricity market are required, and the need for operational optimization utilizing grid storage batteries is increasing.

As an aggregator that integratedly manages power supply and demand, RE100 Power provides advanced power operation services utilizing the electricity market and the supply and demand adjustment market. Meanwhile, Wave Energy has strengths in providing storage battery-related technologies and power equipment, and provides hardware solutions that support the advancement of renewable energy facilities.

Both companies have decided to form a business alliance with the purpose of jointly developing solutions for retrofitting grid storage batteries to existing mega solar power plants, utilizing their respective strengths.

■ Details of the Business Alliance

Through this alliance, we will propose the introduction of grid storage batteries to business owners who own mega solar plants, and while actively taking on the challenge of initiatives utilizing the FIP system and the supply and demand adjustment market (primary adjustment power), we will provide solutions that aim to maximize profits by targeting 24-hour operation of power generation facilities.

■ Future Developments

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

In addition, we will expand electricity market operations utilizing grid storage batteries and contribute to the stable supply of renewable energy and the advancement of power systems.

2. Company Profile

■ Wave Energy Inc.

■ RE100 Power Co., Ltd.

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