Shizen Energy

What Shizen Energy does

Shizen Energy (自然電力株式会社) is a Japan-based renewable energy platform founded in June 2011 in the aftermath of the Great East Japan Earthquake. The company develops, builds, and operates utility-scale solar, wind, and grid-scale battery energy storage assets across Japan and eight international markets (Thailand, Malaysia, Indonesia, Vietnam, Philippines, Australia/New Zealand, Brazil), with a group development portfolio of 1,601.3 MW as of December 2025 and 872 MW operating in Japan alone. The business is structured around four core operating entities: Shizen Energy Inc. (development and decarbonization solutions), Shizen Engineering Inc. (EPC, rebranded from the JUWI JV after Shizen acquired full ownership in March 2024), Shizen Operations Inc. (O&M and asset management of 680 MW across 137 sites and 45 SPCs), and Shizen Connect Inc. (VPP and energy management technology, separately funded via JPY 2.7 billion Series A in May 2026 and recognized as Japan's #1 grid-scale battery AC/RA systems provider).

The technology stack centers on proprietary Virtual Power Plant (VPP) and energy management system (EMS) platforms that aggregate and optimize distributed renewable assets, storage batteries, EV chargers, and EcoCute systems; Shizen Connect's VPP was featured in the WIPO Green Technology Book for EXPO 2025 Osaka. Revenue is generated through a hybrid model combining equity-style returns from own-operated power generation under FIT/FIP and corporate PPA schemes, EPC contract revenue from Shizen Engineering, recurring O&M and asset management fees on third-party-owned assets managed by Shizen Operations, and corporate PPA aggregation plus environmental certificate procurement (non-fossil certificates, I-REC, TIGR, GO, REC). The customer base is anchored by hyperscalers Microsoft (cumulative 100MW+ Japan Virtual PPAs) and Google (30MW Malaysia PPA), alongside Japanese corporates (Tokyo Gas, SMFL Mirai Partners, Hokkaido Electric Power) and education/research institutions for on-site agrivoltaic projects.

The go-to-market combines direct enterprise sales to global technology firms and large Japanese corporations with strategic channel partnerships — joint ventures including Nishitetsu-Shizen Energy (Kyushu, 50/50 JV with West Japan Railway), PT Alam Energy Renewables (Indonesia, with NiX Group, Enbio Holdings, Kanematsu, and Alamport), and Terra Wind Renewables (onshore wind, backed by Stonepeak). Capital structure is anchored by a JPY 70 billion (USD 474 million) committed investment framework from CDPQ (October 2022), with registered capital of JPY 12.6 billion as of end-December 2025; the company remains privately held with no public listing and operates from a Tokyo headquarters and Fukuoka regional headquarters plus offices in Sendai, Nagoya, Ashiya (Kansai), Kumamoto, and Oita.

Name

Shizen Energy

Legal name

自然電力株式会社

Website

https://shizenenergy.net

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

251–500 employees

Short description

Shizen Energy is a Japan-founded renewable energy platform that develops, builds, and operates utility-scale solar, wind, and battery storage across nine countries, serving hyperscalers and large corporates with end-to-end development, EPC, O&M, and PPA services.

Ownership category

akta.pro rank

Product category

Renewable Energy Development and Power Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111), Other Electric Power Generation (221118)

SIC

Electric Services (4911), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industries

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ), Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB), Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Renewable energy development
• Solar power generation
• Wind power projects
• Battery energy storage
• Power purchase agreements

Headquarters

HQ city

Fukuoka

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Power Generation and Electricity Sales: Development, construction, and operation of solar, wind, and other renewable energy power plants. Revenue generated from selling electricity under FIT/FIP schemes and corporate PPAs.
2. EPC Services: Engineering, Procurement, and Construction services for solar and renewable power plants. Shizen Engineering handles full-scope EPC for utility-scale projects.
3. O&M and Asset Management: Operations & Maintenance (O&M) and Asset Management (AM) services for third-party and group-owned renewable energy assets. Technical AM, Commercial AM, and Local Relationship management across 137 sites.
4. Corporate PPA and Aggregation: Virtual PPA and renewable energy aggregation services bundling decentralized power sources for large corporate off-takers. Revenue from electricity and environmental attribute sales under fixed-price long-term agreements.
5. Decarbonization Solutions: Carbon-free solutions including off-site PPA (physical and virtual), environmental certificate procurement (non-fossil certificates, I-REC, TIGR, GO, REC), and overseas decarbonization support.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Shizen Energy develops, constructs, and operates utility-scale solar, wind, and grid-scale battery energy storage power plants across Japan and international markets, while providing end-to-end services including EPC, O&M, asset management, corporate Power Purchase Agreements, and proprietary VPP/EMS energy management technology through its subsidiaries. Revenue is generated from electricity sales under FIT/FIP and corporate PPA schemes, project development fees, and managed services for renewable energy asset owners.

Product overview

Shizen Energy Group operates as a comprehensive renewable energy platform with three main subsidiaries: Shizen Energy Inc. (development and solutions), Shizen Engineering Inc. (EPC), and Shizen Operations Inc. (O&M/AM), plus subsidiary Shizen Connect (energy tech/VPP). The company offers end-to-end services spanning solar and wind power development, grid-scale battery storage (BESS), offsite PPA and environmental certificate procurement, energy management systems, and regional business initiatives. The portfolio includes 1,601.3 MW of developed generation capacity across Japan and international markets (Thailand, Malaysia, Indonesia, Vietnam, Philippines, Australia/New Zealand, Brazil). Shizen Connect provides VPP technology and energy aggregation services that integrate distributed energy resources.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar Power Development
• Wind Power Development
• Grid-Scale Battery Energy Storage (BESS)

Quantifiable outcome

• Over 1 GW of renewable energy generated worldwide
• +3 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• TOKYU LAND CORPORATIONcoreStrategic or Co-development PartnerShizen Energy participates in the Ishikari Renewable Energy Data Center No. 1 project in Hokkaido as strategic partner. The data center, designed to operate on 100% renewable energy, is an initiative led by TOYKU LAND CORPORATION and Flower Communications Inc.
• TotalEnergiescoreStrategic or Co-development PartnerGoogle and TotalEnergies signed a 21-year deal covering up to 300MW of solar capacity with battery storage across Peninsular Malaysia. TotalEnergies partnered with Google on Malaysian solar projects, complementing Shizen Energy's 30MW project for Google's Malaysian data centers.
• Brazil Offshore Wind Developer CoalitionminorStrategic or Co-development PartnerShizen Energy Group is part of a coalition of 8 developers working to advance offshore wind projects in Brazil, where 59 project proposals have been submitted to environmental regulator IBAMA pending final government regulations.
• Terra Wind RenewablescoreStrategic or Co-development PartnerTerra Wind is an investment portfolio company of Shizen Energy focused on onshore wind development in the Asia-Pacific region, supported by global investment firm Stonepeak.
• Tokyo GascoreStrategic or Co-development PartnerTokyo Gas is listed as a partner of Shizen Energy. Tokyo Gas and Shizen Energy have collaborated on projects including the Iwakuni-Uyu solar power plant.
• Tokyu Land CorporationcoreStrategic or Co-development PartnerTokyu Land Corporation leads the Ishikari Renewable Energy Data Center project with Shizen Energy as a strategic partner, promoting community-based green transformation in Hokkaido.
• Nishitetsu (West Japan Railway)coreStrategic or Co-development PartnerNishitetsu-Shizen Energy joint venture (50/50) was established in April 2022 to promote decarbonization and regional resilience in Kyushu, targeting 30MW of renewable energy by FY2025 (6.5MW completed by FY2023).
• Tokyu Property CorporationcoreStrategic or Co-development PartnerTokyu Property Corporation and Shizen Energy co-established Rie-ne Natural Farm LLC for vertical agrivoltaic solar projects, including Japan's largest vertical agrivoltaic installation at Obihiro University of Agriculture and Veterinary Medicine.
• JUWI AG (Germany)coreStrategic or Co-development PartnerJUWI AG, a global wind and solar developer, was Shizen Energy's original JV partner (established 2013). In March 2024, Shizen Energy acquired JUWI's remaining shares, fully integrating the JV operations under the Shizen Engineering brand.
• Alamport Inc.coreStrategic or Co-development PartnerAlamport Inc. is a shareholder in PT Alam Energy Renewables, the JV developing rooftop solar rental business in Indonesia alongside Shizen Energy, NiX Group, Enbio Holdings, and Kanematsu Corporation.
• NiX GroupcoreStrategic or Co-development PartnerNiX Group (core company NiX Japan Co., Ltd.) is a shareholder in PT Alam Energy Renewables developing C&I rooftop solar rental business in Indonesia.
• Kanematsu CorporationminorStrategic or Co-development PartnerKanematsu Corporation is a shareholder in PT Alam Energy Renewables, supporting renewable energy development in Indonesia.
• SENAI (Brazil)minorStrategic or Co-development PartnerSENAI leads a pilot R&D offshore wind project in Rio Grande do Norte, Brazil, with Esteyco and Dois A Engenharia, in which Shizen Energy Group participates as part of an 8-developer coalition preparing for Brazil's offshore wind regulations.

Scale indicators8 records

Recent moves6 records

Expansion highlights8 records

Broad incumbents

• Enel Green Power: Renewables arm of Enel Group, one of the world's largest utility-scale wind, solar, and storage developers with global operations including Asia-Pacific. Provides a benchmark for scale and grid-services ambition relative to Shizen's VPP/BESS pivot.
• ACWA Power: Saudi-listed global IPP and developer with multi-technology (solar, wind, BESS, green hydrogen) projects across the Middle East, Africa, and Southeast Asia. Comparable as a major corporate PPA supplier with a multi-region emerging-markets portfolio and strong balance-sheet financing.
• Engie / ENGIE Asia Pacific: Global multi-utility with substantial renewable energy operations across Southeast Asia (notably through legacy Sunseap assets in Singapore and regional solar portfolios). Comparable as a broad incumbent competing for hyperscaler PPAs and utility-scale projects in the same geographies as Shizen.
• TotalEnergies Renewables: Renewables division of TotalEnergies, a global multi-energy major with significant utility-scale solar+storage and offshore wind ambitions. Direct overlap on Shizen's Malaysian Google solar partnership and broader Asian IPP competition.

Direct peers

• Sonnedix: Global independent power producer (IPP) focused on solar PV development, ownership, and operations across OECD and select emerging markets. Comparable as a private, multi-GW scale renewable IPP selling PPA-based energy to corporate and utility off-takers.
• Pacifico Energy: Japan-based renewable energy developer focused on utility-scale solar and wind projects, with international expansion in Southeast Asia. Directly comparable to Shizen in scope (development, EPC, PPA sales) and Japanese/SE Asia geographic focus.
• Scatec ASA: Norwegian-listed renewable energy IPP developing, owning, and operating solar, wind, and storage in emerging markets including Southeast Asia. Highly comparable business model: utility-scale development, EPC, and long-term PPA sales in similar geographies to Shizen.
• juwi AG: German renewable energy developer specializing in utility-scale solar and wind EPC plus operations. Was Shizen's original JV partner (JUWI Shizen Energy) from 2013 until Shizen acquired full ownership in March 2024, making it a directly comparable peer in EPC and wind/solar development.
• BayWa r.e. German-headquartered global renewable energy developer, trader, and EPC contractor with significant solar, wind, and storage portfolios. Comparable in scale, multi-country footprint, and end-to-end development-to-O&M services offering.
• Encavis AG: European independent power producer operating a multi-GW solar and wind portfolio with growing battery storage exposure. Comparable mid-size IPP with similar development-to-O&M lifecycle and corporate PPA exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/shizen_recruit
• LinkedInlinkedin.com/company/shizen-energy-group
• Facebookfacebook.com/shizenenergy

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shizen Energy