AT: Accelerating Transformation
Accelerated growth enabled by capturing market trends
*Affiliations and titles as of August 2024
Main Services
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Investment and finance in energy businesses
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Green electricity supply (PPA) services
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Energy-saving equipment / subsidy leases
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ESCO business
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Storage battery business
Strong Point
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Extensive experience gained through participation in investment and project finance for domestic and overseas renewable energy and storage battery businesses
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Collaboration with diverse alliance partners in energy-saving, renewable energy and energy storage projects supporting customers' decarbonization
Plans under Fuyo Shared Value 2026 and Vision for 2030
Vision for 2030
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Serve as a global company that helps give rise to a decarbonized society by engaging in a broad range of energy-related businesses on a large scale in Japan and overseas
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Serve as a frontrunner that contributes to resolving climate change and other environmental issues in breaking ground in the new Energy & Environment business domain
Plans under Fuyo Shared Value 2026
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1.Aim to invest a cumulative total of ¥300.0 billion over the 5 years through fiscal 2026 to promote decarbonization
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2.Increase the supply of renewable energy, targeting 1,000 MW of renewable energy power generation capacity
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3.Take on the challenge of developing new businesses set to emerge and grow as a result of structural transformation in the energy industry, such as the grid storage battery business
FY2023 in Review
Working with alliance partners, we expanded our renewable energy business, particularly in Europe.
Ordinary profit declined due to higher interest rates on foreign currencies and upfront costs associated with business domain expansion. However, operating assets were roughly 1.5 times higher than at the end of fiscal 2022. Expansion in renewable energy power generation capacity also progressed in line with plans.
To strengthen the overseas energy business, we established a local subsidiary in the UK in October 2023.
Also, to further expand the business domain into new areas (secondary energy sources, etc.) we joined a large-scale grid storage battery project for the first time through a joint venture with Daiwa Energy & Infrastructure Co. Ltd. and ASTMAX Co., Ltd.
Financial targets
Non-financial targets
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2023/3 |
2024/3 |
March 2027 targets |
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|---|---|---|---|
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Renewable energy power generation capacity*(MW) |
515 |
705 |
1,000 |
Figures in brackets for renewable energy power generation capacity include projects under Development
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*Applies to investments and project financing, etc., made in the Renewable Energy Generation Business (power generation capacity is calculated based on ownership ratio or share)
Issues Ahead and Response Measures
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Issues Ahead |
Response Measures |
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Strengthen our operating base to promote global business expansion |
Strengthen collaboration with overseas sites, mainly the local UK subsidiary, and increase alliance partner companies |
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Develop skilled professionals with insights into the energy & environment industry and overseas fields |
Dispatch personnel to partner companies and develop human resources through education and training programs |
TOPICS
1. Promoting Uptake of Renewable Energy Through Business Expansion with Global Players
The Fuyo Lease Group has participated in domestic solar power generation projects since 2013. Our first move overseas was a solar power generation project in the US, followed by offshore wind power and grid storage battery projects in Europe. To further expand the business, we set up a new subsidiary in London, UK, a key information hub for the renewable energy sector. The new company, which started operations in April 2024, will facilitate collaboration between local and Japanese companies in the renewable energy business in Europe, where there are many investment opportunities, and enhance information gathering in upstream areas.
2. Grid Storage Battery Project for Accelerated Adoption of Renewable Energy and Utility Grid Stabilization
Fuyo Lease Group participated early in the grid storage battery project, a new business model essential for stabilizing electricity supply and demand and making renewable energy the main source of power. DAX LLC, a joint venture with Daiwa Energy & Infrastructure Co. Ltd. and ASTMAX Co., Ltd., will install a grid storage battery (lithium-ion battery with certified output of 50,000kW and certified capacity 100,000kWh) will be installed on a site in Sapporo, Hokkaido and is scheduled to begin operation in fiscal 2025. After operations start, DAX will trade in the wholesale electricity market, the supply-demand adjustment market and the capacity market using AI-based market forecasting and other tools. Our goal is to develop diverse businesses and generate stable profits in the electricity market.
