SINGAPORE, April 06, 2026 (GLOBE NEWSWIRE) -- Kingdom, a battery energy storage system ("BESS") platform established by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has executed its first long-term project finance loan facility for its Mimasaka project, a 29MW battery energy storage project in Mimasaka, Okayama Prefecture, Chugoku, Japan. MUFG Bank, Ltd. is the original lender and mandated lead arranger. The project incorporates batteries from CATL, the world's largest battery manufacturer.
Kingdom owns and manages nine BESS projects in Japan that have each secured a 20-year revenue capacity market contract, which were won in the first two rounds of Japan’s Long-term Decarbonization Auction. The nine projects total 479MW of gross capacity. The Mimasaka project is the first of these projects to execute project financing.
"Kingdom is firmly committed to supporting Japan in meeting its energy transition goals," said Jay Guo, Chief Executive Officer at Kingdom. "We are extremely excited to embark on this cooperation with CATL and MUFG, whilst continuing to swiftly progress the development of the remainder of our BESS portfolio."
“We are delighted to have reached this landmark transaction, which anchors Kingdom’s position as a key player in Japan's energy storage market,” added Ryan Chua, Senior Managing Director at Stonepeak. “We look forward to bringing more of our projects to financial close and into construction in support of Japan’s energy transition targets.”
About Kingdom
Kingdom is a BESS project development company, headquartered in Singapore with offices in Tokyo and Chengdu. Kingdom works across the full project life cycle to build, hold, and operate BESS assets in Japan and other markets, with the aim of advancing energy transition, and facilitating modern power grid system resiliency.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $84 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.
Contacts
Kingdom
Jay Guo / Tian Kai (TK) Ling
corporatecomms@kingdom-bess.com
Stonepeak
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (212) 907-5100