Japan's Itochu, partners to start power storage business in Fukuoka

Tokyo Century

18/07/2023 05:07

TOKYO, July 18 (Reuters) - Japan's Itochu Corp  8001.T 
plans to start a power storage business together with its
partners in Fukuoka prefecture in south-western Japan, the
trading house said in a statement on Tuesday.
    Batteries are central to Japan becoming carbon neutral by
2050, as they are critical for the storage of renewable energy
and to smoothen output fluctuations.
    The project, scheduled to start operations in 2025, will use
large-scale storage batteries and have rated output of 20
megawatts and rated capacity of 56 megawatt hours, Itochu said.
    Last month, Itochu established a power storage company with
Osaka Gas Co  9532.T  and Tokyo Century Corp  8439.T  which
would start construction of large-scale lithium-ion storage
batteries in Osaka prefecture in the first half of the current
fiscal year, to be launched in the fiscal year of 2025.    

 (Reporting by Katya Golubkova; editing by Eileen Soreng)
 ((ekaterina.golubkova@thomsonreuters.com;))