Joint Development Agreement with Zenobē for the U.S. Battery Business2022/12/16

JERA Corporation, through its subsidiary JERA Americas Inc. ("JERA Americas"), has entered into an agreement with Zenobē Americas, LLC ("Zenobē Americas"), a subsidiary of Zenobē Energy Limited (“Zenobē”), a leading EV fleet and battery storage specialist in the United Kingdom, to jointly explore battery storage projects in two northeastern U.S. power markets (New York ^{* 1} and New England ^{* 2}).

In the United States, the number of storage batteries installed is expected to grow significantly in the future alongside the expansion of renewable energy use. Battery storage plays a vital role in the transition to renewable energy systems as it can provide grid stability and flexibility, storing energy in the face of intermittent generation and releasing it when needed. New York State and New England are considered promising markets for the development of the battery business, as deployment targets have been set for the expansion of the battery market and the thermal power facilities owned by JERA Americas are connected to the electric power system in such regions.

Our company has participated in the battery storage business in the United Kingdom through an investment in Zenobē in 2019 ^{* 3}. The new agreement stipulates that JERA Americas and Zenobē Americas will jointly discuss the development of battery storage projects in New York State and New England, including stand-alone storage and co-located with renewable energy sources, to support the expansion of renewable energy deployment. 
The two companies will conduct a study on the applicability of the large-scale battery business including JERA Americas' facilities in these regions and other areas.

As a global company providing cutting-edge solutions to the world's energy problems, JERA will contribute to the sound growth and development of the world by providing a clean energy supply base combining renewable energy and low-carbon thermal power.

*1 New York Independent System Operator Managed Electricity Markets and Power Systems
*2 Electricity markets and power systems managed by independent grid operators in New England
*3 JERA to Participate in the Battery Storage Business in the U.K. | Press Release | JERA