Kingdom Secures First Project Financing for Mimasaka Battery Storage in Japan

Overview

• Kingdom executed a long‑term project finance loan for its 29MW Mimasaka battery system in Okayama Prefecture, with MUFG as original lender and mandated lead arranger and CATL supplying the batteries.
• The Mimasaka facility is the first in Kingdom’s portfolio to reach project financing, marking a move from development toward construction.
• Kingdom manages nine battery storage projects in Japan that each hold 20‑year capacity contracts from the government’s Long‑term Decarbonization Auction, totaling 479MW of gross capacity.
• Stonepeak, which backs the platform, called the financing a landmark and said it expects more projects to reach financial close and start building next.
• Japan’s auction awards fixed capacity payments over two decades, which gives lenders predictable cash flow and helps unlock debt for large grid storage that can steady renewable power and reduce outages.