TOKYO -- Japanese trading house Itochu will invest in the business of battery farms storing energy from renewable sources, Nikkei has learned. Widespread use of such large-scale storage could lead to the effective utilization of renewable energy in Japan, which has lagged behind the U.S. and Europe.
The Warren Buffett-backed trading house will tie up with Australia's Akaysha Energy, which operates storage batteries to generate renewable energy. The two companies aim to commence the storage battery business in 10 to 20 locations mainly in Japan.
