Renova secures financing for battery storage project with Tokyo Gas

RENOVA, Inc. announced the signing of finance-related agreements on June 30, 2025, securing project financing for its storage battery business located in Ishikari, Hokkaido. The 30 MW facility, operated by R3 Energy Storage Facility G.K., is underpinned by an off-take agreement with Tokyo Gas, ensuring the utility operates the facility for 20 years at a fixed price. MUFG Bank, Ltd. is the finance arranger with a total loan amount of approximately JPY 5 billion. Construction is slated to begin in FY 2026, with operation commencing in FY 2027. RENOVA retains the right to acquire additional equity interests from its co-sponsors (SMFL MIRAI Partners Company, Limited), potentially increasing its stake to 75%. The project contributes to RENOVA's decarbonization efforts and grid stabilization initiatives.