Gore Street & ITOCHU to launch Japan’s first dedicated grid-scale storage fund

Gore Street Capital and ITOCHU Corporation have been selected by the Tokyo Metropolitan Government (TMG) to launch Japan’s first fund dedicated to grid-scale energy storage systems. The pair will launch a joint venture to manage the public-private partnership fund, to which TMG will contribute ¥2bn (£10.6m) in funds by the end of fiscal year 2023. Additional funding will be raised from the private sector, including from ITOCHU.