GSSG Chikuden, LLC, a utility-scale battery storage developer dedicated to accelerating the Japanese energy transition, has announced the launch of its business with a US$400 million commitment from Vision Ridge Partners (“Vision Ridge”), a global sustainable real assets investor. GSSG Chikuden will use the investment to support its development, construction and operation of utility-scale battery energy storage systems (“BESS”) across Japan’s power grid.
GSSG Chikuden was established as a joint venture partnership between Vision Ridge and GSSG Solar, LLC (“GSSG Solar”), building upon their longstanding relationship and shared vision for advancing the global transition to sustainability. The GSSG Solar management team, which has committed capital to GSSG Chikuden alongside Vision Ridge, will operate the Company, seeking to leverage its extensive boots-on-the-ground experience, broad network, and history of energy project development across Japan’s power markets. GSSG Chikuden launches with an existing pipeline of development projects with secured grid interconnection rights and will look to opportunistically acquire projects to expand its reach.
“As demand for clean power continues to rise, we are proud to launch GSSG Chikuden with the goal of supporting the urgent need for reliable, grid-scale energy storage infrastructure across the Japanese power market. We believe the commitment by Vision Ridge, a recognized investor with a history of backing BESS, helps validate our mission, strategy and team. We look forward to deploying GSSG Chikuden’s regional expertise and technology to execute on the robust pipeline of development opportunities we see.”
– Tomakin Archambault, Managing Partner and CEO of GSSG Solar.
Vision Ridge invested in GSSG Solar in 2014 and has since supported the company in its expansion and execution of solar energy project development opportunities across Japan. GSSG Chikuden will seek to benefit from Vision Ridge’s familiarity with its leadership team as well as the firm’s experience investing in and growing battery storage platforms. In 2018, Vision Ridge invested in Key Capture Energy, LLC, and supported the company in its evolution into a developer, owner and operator of energy storage projects within the United States until its sale to SK E&S Co., Ltd., a Seoul-based global clean energy solutions provider, in 2021.
“We are pleased to expand our decade-long relationship with GSSG Solar with the launch of GSSG Chikuden. We think battery storage assets form a crucial part of the emerging sustainable energy economy globally and are confident that GSSG Chikuden’s management team, project development experience, and regional relationships will enable it to deliver much-needed energy storage assets to the grid in Japan.”
– Reuben Munger, Managing Partner and Chief Investment Officer of Vision Ridge.
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