Clifford Chance Advised ICG on Acquisition of Majority Stake in Ray8 Energy
Global law firm Clifford Chance has advised ICG, via its Asia-Pacific Infrastructure strategy, on its acquisition of a majority
Clifford Chance Advised ICG on Acquisition of Majority Stake in Ray8 Energy
Global law firm Clifford Chance has advised ICG, via its Asia-Pacific Infrastructure strategy, on its acquisition of a majority stake in Ray8 Energy, a Japan-based developer and owner of grid-scale battery energy storage systems (BESS) projects.
The investment marks ICG's entry in Japan's BESS market and expands its renewable energy investment in the country beyond solar.
Natsuko said, "ICG’s investment in Ray8 Energy is an important transaction for Japan’s growing battery energy storage market and reflects the increasing role of BESS in supporting the energy transition. Our deep energy and infrastructure expertise and strong Japan capabilities were instrumental in navigating the regulatory and commercial complexities of the transaction."
Ray8 is a Tokyo-based platform focused on the development, ownership and long-term operation of grid-scale battery energy storage projects across Japan. Ray8 Energy aims to invest approximately JPY50 billion to develop and own more than 1,000 MW of installed BESS capacity over the next five years.
The Clifford Chance team transaction was led by Natsuko Sugihara (Partner), with support from Yusuke Abe (Partner), Shunsuke Nagae (Counsel), Tomohiro Terada (Senior associate), Brendan Harvey (Senior Associate) and Yuri Higashi (Senior Associate), and Lewin Lim (Associate) and Ryokei Abe (Associate).
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