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ICG Asia-Pacific Infrastructure has partnered with Ray8 Energy to enhance its battery energy storage system (BESS) platform in Japan. This collaboration marks ICG's entry into Japan's BESS market, aiming for over 1,000 MW of installed capacity within five years.

Ray8, founded by Tomohide Den with support from Green Tower, focuses on developing, owning, and operating grid-scale BESS projects. The partnership will leverage Ray8's existing project pipeline and management team's experience to capitalize on the growing BESS market, driven by Japan's Net Zero target by 2050. This investment is ICG APAC Infra's fourth renewable platform partnership in the region since 2023.