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RENOVA ( (JP:9519) ) just unveiled an update.
RENOVA has secured project financing from SBI Shinsei Bank for the R1 Energy Storage Facility in Kikugawa City, Shizuoka Prefecture, a 90MW/270MWh merchant storage battery project that ranks among the largest of its kind in Japan. Building on its earlier Himeji storage financing, the company is leveraging larger scale and in-house operational know-how to reduce per-megawatt costs and sustain profitability as competition in battery storage intensifies.
The new facility will mainly participate in Japan’s supply-demand adjustment and capacity markets, helping stabilize the power grid and underpin renewable energy as a mainstream power source. With this project, RENOVA’s storage portfolio in operation and under construction has reached 352MW, and the company is targeting a cumulative 900MW of battery capacity by 2030 while retaining the option to increase its equity stake in the R1 project’s special purpose company to 80% after operations begin.
The most recent analyst rating on (JP:9519) stock is a Hold with a Yen869.00 price target. To see the full list of analyst forecasts on RENOVA stock, see the JP:9519 Stock Forecast page.
More about RENOVA
RENOVA, Inc. is a Japan-based renewable energy developer and operator focused on power generation from solar, biomass and wind resources. The company is increasingly expanding into large-scale energy storage, positioning batteries as a core business to support the integration of renewable energy and to meet rising power demand driven by data centers and semiconductor plants.
Average Trading Volume: 907,598
Technical Sentiment Signal: Hold
Current Market Cap: Yen72.76B
For detailed information about 9519 stock, go to TipRanks’ Stock Analysis page.