Macquarie’s offshoot Eku Energy secures Japanese long-term power source bid

Eku Energy, jointly owned by Australian financial services group Macquarie, has seen it’s Japanese subsidiary successfully bid for a long-term power source auction two months after a similar long-term energy services agreement was awarded in Australia for its Griffith BESS.

May 1, 2025 Ev Foley

Image: Eku Energy

London-headquartered storage company Eku Energy, jointly owned by Australian financial services group Macquarie Asset Management’s Green Investment Group (GIG) has seen it’s Japanese subsidiary awarded a long-term decarbonisation power source auction for the proposed 150 MW / 600 MWh Eshi battery storage system.

Located in Kasaoka City, 700 kilometres southwest of Tokyo, the four-hour Eshi BESS is the seventh globally that Eku is developing, including its proposed 100 MW / 800 MWh Griffith BESS in Yoogali, near Griffith, New South Wales (NSW).

In February 2025, Eku Energy was awarded a long duration storage long-term energy service agreement (LDS LTESA) from the Australian Energy Market Operator (AEMO) Services for the Griffith BESS, which is anticipated to be in operation in 2028.

The Griffith BESS will be part of a network that already hosts existing solar generation including the 36 MW Griffith Solar Farm and 275 MW Darlington Point Solar Farm.

Eku Energy secured an LDS LTESA from AEMO Services in February 2025.

It’s proposed Japanese counterpart will receive long-term contracts through its successful auction bid there, with fixed capacity payments, providing predictable revenue.

Able to store electricity equivalent to the power consumption of approximately 337,000 households, the Eshi BESS is Eku Energy’s second project in Japan following the 30 MW / 120 MWh Hirohara BESS.

Like Eku’s Australian BESS development, when operational, the Eshi BESS will balance supply and demand, reduce energy price volatility, contribute to the stability of the national electricity grid and unlock more renewable energy that would otherwise be curtailed.

According to a survey by the Japanese Ministry of Economy, Trade and Industry the country’s power demand is expected to increase by about 6% to 852.4 billion kWh in 2034 in response to the expanding need for digital services such as AI, ensuring an increasing need for BESS.

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