HEXA Renewables has won 11 battery projects, totaling 342MW under the first Long Term Decarbonization Auctions (“LTDA”) in Japan.

HEXA’s share accounted for more than 30% of the 1.1 GW BESS projects that were awarded with long term capacity contracts under the first decarbonization auction in Japan. These awards under the LTDA cements HEXA’s commitment to promote renewable energy deployment and provide critical balancing services to the country’s grid system for the ongoing energy transition.

About Japan’s Long Term Decarbonization Auction Program

The LTDA opens up new avenues for investors in the energy transition space in Japan, providing long-term contracted payments to underwrite capital commitments towards low-carbon power projects. Through this program, the Organization for Cross-regional Coordination of Transmission Operators (“OCCTO”) plans to replace its thermal capacity with zero carbon sources by 2050 including development of storage technologies such as BESS and pumped hydro.