HDRE enters Japan’s energy storage market by securing a 20-year government subsidy for its decarbonization offerings

TOKYO, May 29, 2024 /PRNewswire/ — HD Renewable Energy Co., Ltd (HDRE) (6873.TW) announced the successful acquisition by its Japanese subsidiary of two bids for long-term decarbonized energy storage systems in the Japanese market. With a total capacity of 73 MW and energy storage capacity of 97.9 MW, the systems represent a significant milestone. Both projects, located in Mie-ken, Kinki and Fukuoka, Kyushu, are expected to become operational by 2027. Despite the estimated total Japanese market potential of more than 5 GW for such systems, the current bid volume was only 1.09 GW. HDRE’s purchase of 73 MW of capacity in this round represents a strategic global entry for the Taiwanese company Japan growing energy storage sector.

Jason Chougeneral director of HDRE, outlined the company’s ambitious plan to build energy storage systems with a capacity of 1.5 GW in Japan over the next three years, which involves a capital investment of approx 50 billion Canadian dollars. After successful bidding in Japan the first tender for long-term energy storage as part of decarbonization, HDRE has secured a capacity of 73 MW and will benefit from a 20-year subsidy. IN JapanThe energy storage market is divided into three segments: frequency control, spot and capacity. Once the design has been decided, HDRE will use AI optimization analysis models to underpin forecasts and trading strategies across a variety of regional markets and commodities. This approach aims to determine the optimal time for energy storage and release their systems to maximize profits.

HDRE not only positions itself as a precursor in field smart energy, but also aims to expand into international energy markets. By embarking on global expansion in power-liberalized markets such as Japan AND Australia, HDRE plans to fully leverage its comprehensive competitive advantage in green energy integration. The company intends to use its aggregator status to fill gaps in supply and demand by creating a virtual power plant (VPP). Additionally, HDRE plans to establish a robust wholesale and retail electricity business based on TITAN software and hardware integration services.

About HDR

Founded in 2016, HDRE is a leading smart energy company in Taiwan, with the goal of becoming a smart green energy company. HDRE’s diverse business units of power generation, power retail and energy storage have achieved remarkable milestones. The company offers a wide range of end-to-end solutions spanning green energy project development, maintenance and operations management, green energy retailers and charging services, strengthening its market leadership position Taiwan. In recent years, HDRE has made significant progress in expanding into the international energy market, starting with Japan AND Australia. HDRE was listed in 2023 and included in the MSCI Taiwan Index in 2024, further confirming its strength and financial performance.

Contact with the media:
HD Renewable Energy Co., Ltd.｜Murphie Lin｜+886-983-619-036｜[email protected]