Kingdom Energy Storage Secures Financing for 29MW Project in Japan
Kingdom has executed its inaugural long-term financing for a 29MW battery energy storage project in Japan, backed by Stonepeak. This financing marks a significant step in supporting Japan’s energy transition, with Kingdom managing nine projects totaling 479MW capacity under long-term contracts.
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Kingdom has completed its first long-term project finance loan for the Mimasaka project, a 29MW battery energy storage system located in Okayama Prefecture, Japan. The financing was facilitated by MUFG Bank, Ltd., which also serves as the mandated lead arranger.
Kingdom operates nine battery energy storage projects in Japan, each securing a 20-year revenue capacity market contract, amounting to a total of 479MW. The Mimasaka project utilizes batteries from CATL, the largest battery manufacturer globally. This financial milestone underscores Kingdom's commitment to Japan’s energy transition goals, potentially positioning the company as a pivotal player in the energy storage sector.
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