Market Chatter: HD Renewable Mulls 500 Billion Yen Investment in Japan Battery Storage Projects

MT Newswires Live06-23

HD Renewable Energy (TPE:6873) plans to invest about 500 billion yen ($3.1 billion) in Japan's battery energy storage sector as it scales up its expansion in the country, Nikkei Asia reported Tuesday.

The Taiwanese company aims to develop dozens of storage facilities with a combined capacity of about 3,200 megawatts by 2030. Projects are expected to be structured through special-purpose vehicles, with stakes sold down and a fund used to attract institutional investors, according to the report.

HD Renewable Energy is reportedly targeting internal returns of 4% to 5% over a 20-year period. The company has already established a presence in Japan, including a storage facility in Sapporo and partnerships with local utilities and investors, Nikkei said.

HD Renewable Energy did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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