Utility-scale BESS · Japan

Transforming Japan's energy future
with battery storage

Ray8 Energy originates, develops, finances and operates utility-scale battery energy storage across Japan.

400MWPORTFOLIO UNDER DEVELOPMENT
1,600MWhStorage capacity
13Projects nationwide
10Prefectures
Who We Are

Reinforcing the Foundation of Japan's Clean Energy

Our operating principle
CHARGEFORWARD

In a market defined by timing, grid constraints, and an evolving regulatory landscape, we act with clarity, speed, and conviction.

Ray8 Energy is a developer and long-term owner of utility-scale battery energy storage systems (BESS) in Japan. We originate, develop, and manage BESS projects nationwide, combining deep expertise in Japan's power market with a global perspective and institutional-grade practices.

Supported by the long-term capital of ICG, a leading global alternative asset manager, Ray8 combines local execution expertise with institutional investment discipline to scale battery storage infrastructure in Japan.

What We Do

Every Phase of BESS Projects, Under One Roof

From site origination and development through financing and asset management.

01

Origination

Strategic selection of high-quality project sites with favorable grid access and interconnection terms, leveraging an extensive nationwide network in Japan.

02

Development

Securing permits and approvals while assessing technical requirements to ensure robust and compliant project structures.

03

Capital Structuring & Financing

Developing disciplined project-level capital structures and executing debt financing strategies that support long-term value creation.

04

Asset Management

Providing close asset oversight and performance management in partnership with best-in-class third-party BESS operators.

OUR STRENGTHS

What Sets Ray8 Apart

Disciplined Site Selection

We prioritize sites with favorable topography, good site access, proximity to transmission infrastructure, and manageable interconnection costs and terms.

Early Grid Access

We focus on projects where grid capacity can be secured early and developed in full compliance with TSO technical requirements.

In-House Development Expertise

Our team manages permitting, regulatory compliance, and key development risks directly from the outset.

Institutional Capital Discipline

We apply rigorous underwriting, disciplined risk allocation, and a financing strategy tailored to each investment.

Community Partnership

We engage local communities early and maintain an open dialogue throughout development and operations.

Revenue Optimization

We design our trading and charge/discharge strategies in-house to maximize long-term asset value.

Safety by Design

Fire-safety requirements, appropriate separation distances, and operational resilience are embedded in the initial design.

Quality-Focused Procurement

We select equipment based on reliability, warranty strength, and lifecycle performance—not simply upfront cost.

Our Investor

Backed by ICG

ICG
Assets under management
US$126 bn*
Listing
LSE: ICG
Index
FTSE 100
Investing since
1989

ICG is the majority shareholder of Ray8 Energy and a leading global alternative asset manager providing flexible capital solutions to support companies through growth and development. With over three decades of investment experience, ICG invests across the capital structure.

ICG builds long-term partnerships with its portfolio companies, combining deep financial expertise with an active, relationship-driven approach — delivering sustainable value for investors, clients, employees, and broader society.

ICG invests in infrastructure through its Real Assets platform, which includes a dedicated Asia-Pacific infrastructure strategy for which Japan is a core market, reflecting the long-term fundamentals of the country's energy transition.

(*AUM as at 31 March 2026)

Senior Leadership

Seasoned operators in Japan's energy market

Ray8 Energy is built by professionals with proven execution capability across solar, wind, biomass, and storage — delivering high-quality BESS projects with discipline and speed.

Tomohide Den

Tomohide Den

CEO

Tomohide is the founder and CEO of Ray8 Energy. Since 2016, as CEO of Conray, he has invested in and developed renewable energy projects across Japan, including super high-voltage solar, biomass, and onshore wind. Since Ray8 Energy’s inception in 2024, he has built the company, together with a team of specialists drawn from across Japan’s energy sector, into an end-to-end BESS developer with a 1.6 GWh pipeline. He leads the company’s strategy, project execution, capital structuring, and growth.

Naoki Sato

Naoki Sato
Investment

Naoki leads investment and capital markets at Ray8 Energy. He has over 15 years of experience in the renewable energy and grid-scale battery storage sectors in Japan and overseas, at MUFG Bank and Daiwa Energy & Infrastructure. He has extensive experience in structuring project finance and executing equity investments, having worked on both the lender and the sponsor side.

Yuko Numata

Yuko Numata

Business Operations

Yuko supports execution of business development, strategy, and operations at Ray8 Energy. She has over a decade of experience in renewable energy, specializing in project investment and asset management of solar and wind projects in Europe and the US at Marubeni. She also provided strategic advisory on renewable and clean energy initiatives for public and private clients at Boston Consulting Group.

Yusuke Shinozaki

Yusuke Shinozaki
Commercial Strategy & Partnerships

Yusuke leads commercial strategy and partnership development for the BESS portfolio. With over 15 years of experience in the energy sector, including roles at JERA and ENEOS, he has deep expertise in the retail electricity business, supply–demand management, power trading, and corporate PPA structuring for renewable energy projects. He optimizes the BESS portfolio through strategic aggregator partnerships and the optimal mix of tolling and merchant operations.

Keiji Yano

Keiji Yano

Engineering

Keiji leads engineering operations as a Director at Ray8 Energy. With a background in power utilities and battery storage manufacturing, he has extensive experience in planning, developing, and deploying industrial and grid-scale battery systems. His expertise spans contract negotiations, commercial operations, and the development of storage control systems to optimize grid stability.

Shinichi Shimizu

Shinichi Shimizu

Development

Shinichi leads project development and local stakeholder engagement across Japan at Ray8 Energy. Since 2016, he has been involved in the development of solar, onshore wind, and biomass power plants across Japan at SB Energy and other renewable energy firms. He has extensive experience in land acquisition, permitting, project finance, local stakeholder engagement, and asset management.

Masafumi Murosaki

Masafumi Murosaki
Project Delivery

Masafumi leads project delivery and engineering integration as a Director at Ray8 Energy. He began his career in the design and project management of building automation and SCADA systems for data centers, hospitals, and office buildings, before moving into the renewable energy sector. He has since worked on solar, onshore and offshore wind, and grid-scale battery storage projects, with broad experience spanning development, engineering, construction, and commissioning.

Shinya Sakamoto

Shinya Sakamoto

Civil Engineering

Shinya brings over 30 years of experience in civil engineering- particularly foundation structures- and permitting, with extensive expertise in geotechnical surveys and offshore wind development. He has led coordination with municipalities and local communities across Japan, contributing to the approval of numerous projects. At Ray8, his deep technical knowledge is a key force supporting the company's business foundation.

News

Latest from Ray8

ICG invests in Ray8 Energy to scale battery storage in Japan

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Corporate Profile

Ray8 Energy in Japan

Ray8 Energy Inc.

Company
Ray8 Energy Inc.
Established
July 2024
Representative
Tomohide Den, Chief Executive Officer
Head office
Toranomon Hills Business Tower 15F
1-17-1 Toranomon, Minato-ku, Tokyo
Team
15
Business
Development, ownership and operation of utility-scale battery energy storage systems

Ray8 Energy is a platform comprised of multiple companies. Operations in Japan are conducted through the entity above.