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JP

We invest globally in Energy & Infrastructure

We connect the world through investments

We are Daiwa Energy & Infrastructure

Generation Capacity

2.5GW

Total Investment

180B JPY

Global Asset Locations

43

As of March 31, 2025

  • Top

  • Battery

  • Data Centers

  • Fundraising

  • News

  • Team

Focus 01

Battery Storage

Securing the Reliability of
Renewable Energy Grids

Through our investments, we are facilitating the deployment of
energy storage solutions to ensure a long-term, stable power supply.

Strategy

Our Strategic RoadmapBattery Storage: A Key Enabler of Renewable Energy

Typical Deployment Locations

Battery storage systems store electrical energy for later use, providing power when needed. They are most commonly found in 3 key locations:

  • Generation-side: Integrated with power generation facilities like solar PV power plants or wind farms.

  • Grid-scale: Connected directly to the power grid, helping stabilize the supply and distribution of electricity.

  • Consumer-side: Installed at the point of consumption, in homes or businesses.

Global Landscape

In advanced regions, the adoption of large-scale battery storage systems has made significant progress. As of September 2024, Texas, United States, has 6.4 GW of operational battery storage capacity, with 2.4 GW added in 2024. Meanwhile, nearly 5 GW of battery storage is currently in operation in the United Kingdom, and further expansion is expected in other countries and regions.

In Japan, battery storage systems are anticipated to play a key role in supporting the country's renewable energy goals as part of the transition to a carbon-neutral society by 2050. We believe this trend will accelerate adoption in the years to come.

Investment Rationale

Battery storage systems are designed to balance supply and demand, maximize renewable energy use, reduce peak electricity demand and provide emergency backup during disasters. Our primary focus is on addressing the intermittency of renewable energy generation, particularly solar PV power, which is highly dependent on weather conditions.

We believe that the ability to store energy is essential for stabilizing the power grid and driving the expansion of renewable energy, making battery storage a key focus for investment.

Future Development

We will continue to make pioneering investments across a wide range of applications in the battery storage sector to enhance the long-term stability of renewable energy supply.

Building on our experience in developing and offering financial products for the Japanese solar PV power sector, leveraging the financial expertise and resources of the Daiwa Securities Group, we aim to extend this approach to battery storage. This will create new investment opportunities, connecting institutional and retail investors with this evolving asset class. As part of the Daiwa Securities Group, we are committed to establishing a system where "everyone contributes funding to the infrastructure we all use."

Highlights

Focus 02

Data Centers

Empowering the AI Era

With a focus on data center development and operations,
we drive the growth of AI infrastructure to meet accelerating demand.

Strategy

Our Strategic RoadmapNavigating the Data Center Investment Landscape: Trends and Future Potential

Overview

A data center is a specialized facility designed to house, manage and operate servers and other ICT equipment.

Data centers require a constant, reliable power supply for 24/7 operation without interruption. To ensure efficiency and security, they also depend on advanced power systems, cooling solutions, robust network infrastructures, strong security measures and disaster prevention capabilities.

The demand for data centers is projected to grow significantly, both in size and complexity. The rise of remote work, increasing consumption of digital content and advancements in cloud computing and AI have all fueled a surge in data transmission. As emerging technologies like the metaverse, telemedicine, remote education and autonomous driving are set to further transform digital ecosystems, the need for powerful data processing and storage solutions will only intensify.

Market Trends Across Key Regions

In Europe, demand for generative AI, big data analytics and hyperscale/colocation data centers is increasing, leading to greater IT power capacity in these facilities. Due to power supply and zoning restrictions in major cities, there is also growing interest in investing in Tier 2 markets in Northern and Central Europe.

In the United States, the expansion of cloud computing and AI technologies is driving the demand for hyperscale data centers. The increasing use of AI and machine learning applications is also reshaping data center designs, requiring innovative solutions to support next-generation workloads. Sustainability and energy efficiency are becoming top priorities, with companies like AWS leading the way through their acquisition of a nuclear-powered data center campus in Pennsylvania to advance clean energy adoption in the industry.

In Japan, the demand for data centers is growing rapidly, driven by the increasing adoption of cloud services and the acceleration of digital transformation. The Tokyo and Osaka metropolitan areas continue to be key hubs for data center development, with ongoing investment in these regions. Meanwhile, the Japanese government is encouraging the decentralization of data centers to improve regional digital infrastructure. This push has led to a rise in data center construction in areas like Hokkaido and Kyushu, in line with national initiatives focused on digital transformation and green technology.

Future Outlook

With global data traffic continuing to rise, data centers are becoming an increasingly attractive asset class for investment. Given these trends, we are always on the lookout for new projects and partnerships opportunities both domestically and internationally. By leveraging the global network and financial expertise of the Daiwa Securities Group, we continue to strengthen digital infrastructure worldwide through strategic investments.

Highlights

Focus 03

Fundraising & Co-investment

Achieving Even Greater Scale

We are leveraging the scalability of funds and our financial expertise
to create investment opportunities that generate larger-scale impact.

Strategy

Our Strategic RoadmapFundraising: Building Scale, Expanding Investment Opportunities

As a member of the Daiwa Securities Group, we are committed to contributing to a more sustainable society through strategic investments in renewable energy and infrastructure.

Since 2018, we have invested across a diverse range of asset classes, including solar PV, wind power, biomass, battery storage, power distribution, telecommunications and road operations. Leveraging our strong track record in principal investments, we also structure funds that offer investors attractive opportunities in alternative assets, particularly renewable energy power plants.

Our Fund Formations to Date

In 2020, we launched a privately placed fund incorporating 3 mega solar PV projects in Iwamizawa and Kushiro, Hokkaido. This fund embodies the concept of "locally produced, locally consumed" energy and finance, with Hokkaido Electric Power Co., Inc. making an equity investment representing local investors, and North Pacific Bank,Ltd. participating as an asset-based lender on behalf of local financial institutions.

The following year, we formed the DSREF Amaterasu Core Fund, Investment Limited Partnership to further expand investor access to alternative assets. This fund focuses on operational solar PV plants across Japan that generate stable cash flows and has secured approximately 16 billion yen in capital commitments from institutional investors, including domestic pension funds and life insurance companies.

Future Outlook

In the infrastructure sector, we continue to focus on investments that enhance social infrastructure. Our portfolio includes investments in power distribution in Finland and the United Kingdom to support stable electricity supply, as well as fiber optic networks in Spain and data centers in Japan to strengthen high-speed communications and digital infrastructure. Building on these achievements, we also plan to introduce new fund offerings in infrastructure investment.

We continue to explore new approaches to provide powerful alternative asset opportunities for investors, while scaling our investments to pave the way for long-term impact.

Highlights

News Releases

News

Our Team

A Unified Team
for Swift Action

With a senior management team combining deep experience and future insights, and a dynamic front team of 40+ experts, we drive impactful investments and effective asset management.

  • Masahiro KOBAYASHI

    Masahiro KOBAYASHI

    Masahiro KOBAYASHI

    Chairman

    Masahiro has been Chairman since April 2023. He also serves as Chairman of Daiwa Investment Management, Daiwa Corporate Investment and Daiwa PI Partners.

    Masahiro joined Daiwa Securities in 1986. He held a succession of executive positions at Daiwa Securities SMBC, including Head of Capital Solutions and Head of the Corporate Planning Department. In 2011, he became Senior Managing Director and Co-Head of the Global Investment Banking Division (GIB) at Daiwa Securities. In 2020, he was appointed Senior Executive Managing Director, Member of the Board and Head of GIB. He was promoted to Deputy President of Daiwa Securities in 2022, and also served as Deputy President of Daiwa Securities Group.

    Masahiro holds a Bachelor's degree in Science from Kwansei Gakuin University.

  • Morimasa MATSUDA

    Morimasa MATSUDA

    Morimasa MATSUDA

    President

    Morimasa has been President since 2019.

    Morimasa began his career at Daiwa Securities in 1989. After working in sales for both retail and institutional investors, he transitioned into investment at Daiwa Securities SMBC Principal Investments in 2007. In 2013, he was appointed Managing Director and Head of the Internal Audit Department of Daiwa Securities Group, and in 2016, he became Senior Managing Director, Member of the Board and a member of the Audit Committee. Additionally, in 2018, he was appointed Executive Director and Chairperson of the Legal Committee at the Japan Audit & Supervisory Board Members Association.

    Morimasa holds a Bachelor's degree in Law from the University of Tokyo. He is also a chartered member of the Securities Analysts Association of Japan.

  • Jun HAYAKAWA

    Jun HAYAKAWA

    Jun HAYAKAWA

    Deputy President

    Jun has been Deputy President since April 2025. He previously served as Senior Executive Managing Director since joining us in April 2022.

    Jun started his career at Daiwa Securities in 1993, where he was involved in M&A, public offerings and IPO transactions in the investment banking business until 2006. He then moved to Daiwa Securities SMBC Principal Investments. In 2015, he became CEO of Daiwa Securities Capital Markets Europe (London), and in 2018, he was appointed Head of the Real Estate REIT Sector Department at Daiwa Securities.

    Jun earned a Bachelor's degree in Economics from the University of Tokyo and an MBA from London Business School. He holds the national license of Real Estate Transaction Agent and is a chartered member of the Securities Analysts Association of Japan. He is also an ARES Certified Master.

  • Mitsuru BESSHO

    Mitsuru BESSHO

    Mitsuru BESSHO

    Senior Executive Managing Director

    Mitsuru has been Senior Executive Managing Director since April 2019.

    Prior to joining us, Mitsuru had 30 years of corporate finance and advisory experience, including 16 years with Sumitomo Mitsui Banking Corporation and 14 years with Daiwa Securities, where his primary role was advising clients on cross-border M&A and domestic transactions. He held managerial positions in the Strategic Advisory Department of Daiwa Securities and advised on over 50 transactions.

    Mitsuru holds a Bachelor's degree in Political Science & Economics from Waseda University. He is also a chartered member of the Securities Analysts Association of Japan.

  • Tomokatsu KANEYA

    Tomokatsu KANEYA

    Tomokatsu KANEYA

    Executive Managing Director

    Tomokatsu has been Executive Managing Director since April 2025. Prior to that, he served as Senior Managing Director from 2020. He is currently based in Germany to lead the global coordination between Aquila Group and Daiwa Energy & Infrastructure.

    Tomokatsu began his career in risk management at the Bonds Department of Daiwa Securities in 1998. From 2007, he worked in private equity investment at Daiwa Securities SMBC Principal Investments and corporate planning at Daiwa Securities Group. He served as an executive assistant at the Executive Office from 2011 to 2013, then became Head of Investment Banking Business in Singapore. He joined Daiwa PI Partners in 2017 and played a key role in our establishment.

    Tomokatsu holds an MBA from University of California, Los Angeles. He is a chartered member of the Securities Analysts Association of Japan.

  • Koichi NAGAO

    Koichi NAGAO

    Koichi NAGAO

    Senior Managing Director

    Koichi has been Senior Managing Director since April 2023. Prior to that, he served as Head of Investment Solutions from 2021, after joining us in 2018.

    Koichi began his career at Daiwa Institute of Research in 1989. He moved to the Structured Finance Institute of Japan in 1997, then joined the Structured Finance Department of Daiwa Securities SBCM in 1999, where he specialized in asset securitization. From 2014, he took on roles in concession advisory and financing for renewable energy projects at the IB Solution Department at Daiwa Securities. In 2017, he spent a year in the Compliance Department.

    Koichi holds a Bachelor's degree in Business from Keio University. He is a chartered member of the Securities Analysts Association of Japan.

  • Takeshi OTSU

    Takeshi OTSU

    Takeshi OTSU

    Senior Managing Director

    Takeshi has been Senior Managing Director since April 2024. Prior to that, he served as Head of Renewable Energy Investment Development and Portfolio Management from 2021, after joining us in 2018.

    Takeshi began his career at Daiwa Securities SMBC in 2002, focusing on equity financing transactions for listed firms. In 2010, he moved to the Corporate Planning Department at Daiwa Securities Group, where he was involved in group reorganization and communication with credit rating agencies.

    Takeshi holds an MBA from New York University.

  • Takuya TANOUE

    Takuya TANOUE

    Takuya TANOUE

    Senior Managing Director

    Takuya has been Senior Managing Director since April 2024. Prior to that, he served as Head of Infrastructure Investment, after joining us in 2018.

    Takuya began his career in 2000 at a general trading company, where he was initially in charge of accounting for electric power businesses. He later moved to the aircraft business department, focusing on project investment and new business development through M&A. In the finance/real estate division, he also gained experience in private equity fundraising, asset management and solar power projects.

    Takuya holds a Master's degree in Aerospace Engineering from Kyushu University.

  • Takahiro FUJITA

    Takahiro FUJITA

    Takahiro FUJITA

    Managing Director
    Head of Renewable Energy Investment

    Takahiro has been Head of Renewable Energy Investment since April 2024, overseeing the entire investment process, including asset acquisition, loan financing, value creation, exits and the formation of privately placed fundraising. As our co-founding member, he has invested in a diverse range of renewable energy assets, including solar PV, BESS and renewable energy companies.

    Before his current role, Takahiro worked at Daiwa Securities Group, starting in 2005, where he was involved in principal transactions and financing. Prior to that, he served as a local government official.

    Takahiro holds a Bachelor's degree from the Faculty of Economics at Kyoto University. He is a Licensed Real Estate Appraiser, Small and Midsize Enterprise Consultant, a chartered member of the Securities Analysts Association of Japan, a Real Estate Transaction Agent and an ARES Certified Master.

  • Toshiki KODAMA

    Toshiki KODAMA

    Toshiki KODAMA

    Managing Director
    Head of Renewable Energy Investment Business

    Toshiki has been Head of Renewable Energy Investment Business since April 2024. Since joining us in 2019, he has been responsible for expanding our renewable energy asset investments both in Japan and abroad.

    Toshiki began his career in 2008 at Hitachi High-Technologies, engaging in the domestic solar PV plant development business. In 2014, he moved to SB Energy, where he worked as a project manager for both domestic and international renewable energy development projects. He was involved in a wide range of renewable energy assets, including solar PV, biomass, and geothermal energy.

    Toshiki holds a Bachelor's degree from International Christian University, College of Liberal Arts.

  • Toshiyuki MINAMI

    Toshiyuki MINAMI

    Toshiyuki MINAMI

    Senior Advisor

    Toshiyuki has been Senior Advisor since June 2023.

    Toshiyuki entered the Ministry of Posts and Telecommunications (MPT, renamed the Ministry of Internal Affairs and Communications in 2001) in 1982 and played a key role in several projects, including the privatization of Japan's postal services, regulatory policy planning, communications infrastructure development, broadcasting reforms, ICT promotion, and international trade negotiations with the United States/WTO. After retiring from his position as Councillor in the Cabinet Secretariat in 2019, he served as an Advisor at Tokio Marine & Nichido. From 2020 to 2023, he worked at NTT Docomo, where he served as Senior Executive Vice President and focused on promoting sustainability initiatives, including carbon-neutral efforts.

    Toshiyuki holds a Bachelor's degree in Law from the University of Tokyo. He is a member of The Japan Society of Information and Communication Research.

  • Hidehiko NISHIYAMA

    Hidehiko NISHIYAMA

    Hidehiko NISHIYAMA

    Senior Advisor

    Hidehiko has been Senior Advisor since October 2022.

    Hidehiko entered MITI (Ministry of International Trade and Industry) in 1980 and held numerous responsible positions across a variety of fields, including energy (electricity and gas), Japan-United States trade relations, APEC and ODA. In 2013, he moved to Yazaki Corporation, a multinational company in the automobile parts and energy industries, and served as Executive Vice President of Yazaki Brazil from 2015 to 2020.

    Hidehiko holds a Bachelor's degree in Law from the University of Tokyo and an LL.M. from Harvard Law School.