What GPSS does

GPSS Group is a Japanese renewable energy developer, owner, and operator founded in 2012 and headquartered in Tokyo, with 251-500 employees organized across multiple operating subsidiaries. The group develops power generation facilities across five energy segments: solar photovoltaic, onshore wind, small-to-medium hydroelectric, geothermal (including binary ORC systems), and biogas/Waste-to-Power (WTP). Core technical capabilities include binary Organic Rankine Cycle power generation for low-temperature heat resources (licensed from TICA and EXERGY for the Japanese market), methane fermentation for organic waste, and — most recently — hydrogen methanation technology licensed from CYTOK GmbH for Japan and Taiwan. The company's distinctive approach is a community co-development and co-ownership model in which local governments, agricultural cooperatives, hot spring operators, and other regional stakeholders become joint owners and beneficiaries of power generation projects, ensuring long-term alignment and differentiated access to sites.

GPSS generates revenue through five streams: (1) regulated power generation sold to regional utilities under Japan's 20-year Feed-in Tariff (FIT) and Feed-in Premium (FIP) schemes, (2) off-site Corporate Power Purchase Agreements with large enterprise buyers such as Tokyu Corporation Group and JR Kyushu Group, (3) EPC services for third-party renewable projects, (4) recurring O&M services, and (5) equipment distribution via subsidiary GDI. Its development pipeline stands at approximately 1.2 GW as of April 2026, with cumulative generation since January 2014 of approximately 716,320 MWh (avoiding 357,570 t-CO2 cumulatively) and FY2025 annual generation of 129,630 MWh. Notable flagship projects include the Higashi Izu Furusato Wind Farm (7,480 kW, GPSS's first wind project, operational June 2026), the Matsunoyama Onsen community geothermal binary plant (210 kW), the Sukawagawa River small hydro plant, Japan's first cacao solar sharing project in Okinawa, and 17 jointly developed solar sites totaling ~23,000 kW in partnership with Osaka Gas.

The group has secured multiple third-party validations of its ESG and sustainability practices, including B Corp certification (2025), GRESB Infrastructure 5-star ratings (2020 and 2021), JCR Green1 ratings on its green bond program, and membership in TCFD, TNFD, and LTIIA. Capital has been raised through a series of green bonds and private placement bonds issued between 2019 and 2021 (totaling roughly ¥4.7 billion), supplemented by a capital and business alliance with JA Mitsui Leasing. Strategic activity is currently accelerating, with a six-company group restructuring completed in June 2026, ongoing geographic and vertical expansion (Taiwan, hydrogen methanation, agrivoltaics), and active partnership formation with major energy and infrastructure counterparties both domestic (Osaka Gas, Tokyu, JR Kyushu, Tohoku Electric, Okinawa Electric) and international (wpd Group of Germany, CYTOK GmbH).

Name

GPSS

Legal name

GPSS Holdings Inc.

Website

https://gpssgroup.jp

Company type

Private

Founded year

2012

Headcount range

251–500 employees

Short description

GPSS is a Tokyo-based renewable energy developer that builds, owns, and operates solar, wind, hydro, geothermal, and biogas power plants across Japan in partnership with local communities, selling electricity under FIT/FIP contracts and Corporate PPAs to utilities and large enterprises.

Ownership category

akta.pro rank

Product category

Renewable Energy Power Generation

NAICS

Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111), Geothermal Electric Power Generation (221116), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB)

akta.pro secondary industries

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB)

Keywords

• Renewable energy development
• Solar power generation
• Geothermal binary power
• Corporate power purchase
• Community energy projects

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Power Generation and Sale (Feed-in Tariff): GPSS develops, owns, and operates renewable energy power generation facilities. Generated electricity is sold to utility companies under Japan's Feed-in Tariff (FIT) and Feed-in Premium (FIP) schemes at fixed rates over long-term contracts (typically 20 years). This is the primary revenue stream.
2. Corporate PPA (Power Purchase Agreement): GPSS develops solar power plants and supplies renewable electricity directly to corporate customers through off-site Corporate Power Purchase Agreements. This model bypasses traditional utility intermediaries and provides long-term fixed-price electricity contracts to large electricity consumers such as real estate developers and railway operators.
3. EPC (Engineering, Procurement, Construction) Services: GPSS Engineering, a group company, provides engineering, procurement, and construction services for third-party renewable energy projects, including facility design, equipment procurement, and construction management. Revenue is earned on a project-by-project basis.
4. O&M (Operations & Maintenance) Services: GPSS Engineering provides ongoing operations and maintenance services for power generation facilities, including monitoring, maintenance, and performance optimization, generating recurring service fees.
5. Equipment Sales and Distribution: Group companies import and sell specialized equipment including binary generators (TICA PC280, EXERGY medium/large ORC systems), air-cooled condensers, hydro turbines, and wind monitoring equipment to third-party project developers in Japan.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

GPSS Group develops, owns, and operates renewable energy power generation facilities across five energy sources: solar photovoltaic, wind, small/medium hydro, geothermal (binary ORC), and biogas/Waste-to-Power. The group handles the full project lifecycle including development, financing, EPC, and O&M, and provides EPC, O&M, and equipment distribution services to third-party developers through subsidiary companies.

Product overview

GPSS Group is a Japanese renewable energy company that develops, owns, and operates power generation facilities across five energy segments: solar photovoltaic, wind power, small/medium hydroelectric, geothermal (including binary/ORC systems), and biogas/Waste-to-Power (WTP). The group operates through key subsidiaries: GPSS Engineering handles EPC and O&M services, while GPSS Business Development consolidates multi-source power project development. The company focuses on community-based joint ventures, developing approximately 1.2GW in pipeline (as of April 2026) and achieving cumulative power generation of 716,320 MWh since 2014. Notable products include binary power generation systems (PC280 from TICA, EXERGY systems from 1MW-28MW), solar sharing agrivoltaic projects, and emerging hydrogen methanation technology licensed from CYTOK GmbH.

Differentiator

Problem solved

Functional benefit

Products and services

• Renewable Energy Power Generation (Solar, Wind, Hydro, Geothermal, Biogas/WTP) End-to-end renewable energy power generation business covering development, financing, construction, and operation of solar, wind, small/medium hydro, geothermal (binary ORC), and biogas/Waste-to-Power facilities. Generates and sells electricity primarily under Japan's 20-year FIT/FIP scheme to utilities and directly to corporate buyers under off-site PPAs.
• EPC (Engineering, Procurement, Construction) Services Engineering, procurement, and construction services for third-party renewable energy power generation projects, including facility design, equipment procurement, and construction management. Provided by subsidiary GPSS Engineering to project owners, landowners, and partner companies.
• O&M (Operations and Maintenance) Services Recurring operations and maintenance services for power generation facilities, including monitoring, preventive maintenance, and performance optimization, provided by GPSS Engineering to project owners.
• Corporate Power Purchase Agreement (PPA) Electricity Supply Long-term off-site Corporate PPA electricity supply to large enterprise customers, bypassing utility intermediaries. Customers include Tokyu Corporation Group (Shibuya Stream, Granumba, Tokyu Kabukicho Tower) and JR Kyushu Group (railway stations).
• Renewable Energy Equipment Distribution (Binary Generators, Turbines, Wind Monitoring) Import and distribution of specialized renewable energy equipment in Japan, including TICA PC280 (280kW) and EXERGY (1-28MW) binary ORC generators, air-cooled condensers, hydro turbines, and wind monitoring equipment. Sold to third-party project developers.

Quantifiable outcome

• Cumulative renewable energy generated: approx. 716,320 MWh since January 2014, equivalent to annual electricity consumption of approximately 183,155 households
• +5 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

14 partnerships are on record, tiered core and minor.

• wpd Group (ドイツ)coreStrategic or Co-development Partner · 1 June 2026GPSS Group and wpd Group (Germany, founded 1996) formed a joint venture, Higashi Izu Wind Power GK, to develop the Higashi Izu Furusato Wind Farm (7,480 kW). wpd contributed its expertise in wind project development, financing, construction, and operations. This is GPSS's first wind power project, marking its entry into wind energy. wpd has 7,000 MW of onshore wind development track record and a 38 GW wind / 8 GW solar development pipeline globally.
• CYTOK GmbHcoreOEM/ Whitelabel/ Licensing Partner · 10 June 2025GPSS Engineering and CYTOK GmbH (Germany, Rostock) signed a licensing agreement granting GPSS exclusive rights to implement CYTOK's hydrogen methanation technology in Japan and Taiwan. This builds on a May 2023 exclusive partnership and November 2023 joint venture. CYTOK's technology enables decentralized hydrogen-to-synthetic-methane conversion with closed-loop CO2 capture, providing resilient energy storage for areas with grid constraints or disaster vulnerability.
• Rakuno Gakuen UniversityminorStrategic or Co-development Partner · 16 April 2025GPSS Holdings, Mirai Chiiki Corporation, and Rakuno Gakuen University (Hokkaido) launched joint research on synergistic effects of dairy farming and solar sharing. The study is conducted at Matsuda Farm in Shikabe, Hokkaido, where a GPSS/Mirai Chiiki 8-hectare solar plant will coexist with 30-40 grazing dairy cows. Rakuno Gakuen University handles research design and data analysis.
• JR Kyushu Group (JR九州グループ)coreStrategic or Co-development Partner · 24 October 2024GPSS Holdings supplies renewable electricity to JR Kyushu Group through an off-site Corporate PPA arrangement covering railway stations and offices in Kyushu. This was JR Kyushu's first off-site corporate PPA for station facilities. The arrangement contributes to JR Kyushu's decarbonization goals.
• Tokyu Corporation Group (東急株式会社グループ)coreStrategic or Co-development Partner · 27 September 2022Tokyu Corporation, Tokyu Recreation, and Tokyu Power Supply partnered with Osaka Gas and GPSS Holdings on an off-site Corporate PPA model for new medium/small solar plants. The power from 8 sites (~9,000 kW) supplies Tokyu's large mixed-use developments (Shibuya Stream, Granumba, Tokyu Kabukicho Tower). This was Japan's first off-site Corporate PPA using this grant mechanism. GPSS Holdings and Osaka Gas each hold 50% in GDsPJ LLC.
• Osaka Gas Co., Ltd. (大阪ガス)coreStrategic or Co-development Partner · 22 June 2021GPSS Holdings and Osaka Gas signed an agreement for continuous joint development of medium and small-sized solar power plants across Japan. Both companies hold 50% stakes in operating entities (GDsPJ LLC, GDsPJ2 LLC). The partnership expanded from initial memorandum (June 2021) to include a second phase (April 2025) with five additional plants (~7,000 kW). Total jointly developed capacity reached 17 sites (~23,000 kW). Osaka Gas aims for 5 GW renewable energy contribution by FY2030.
• Arsec Inc. (アーセック)minorStrategic or Co-development Partner · 10 May 2021GPSS Holdings entered a capital and business alliance with Arsec Inc., a biogas company. In 2023, Arsec Inc. and Japan Bio Methane Inc. (GPSS group company) merged to form Arsec Bio Energy Corporation, accelerating GPSS's biogas business.
• EXERGY International Srl / Nanjing TICA Thermal TechnologycoreTechnology or Integration · 20 May 2020GDI (Geothermal Development & Investment) signed a distributor agreement with TICA Thermal for EXERGY's medium and large ORC binary generators (1-28 MW per unit). GDI is the only Japanese company handling the full range of binary power generation: small (Electratherm 75-120 kW), medium (TICA PC280 280 kW), and large (EXERGY 1-28 MW). TICA acquired EXERGY in September 2019. EXERGY ranks third globally in binary generators with over 470 MW total installed capacity.
• Long Term Infrastructure Investors Association (LTIIA)minorOthers · 1 November 2019GPSS joined LTIIA in November 2019. LTIIA is a non-profit organization established by leading global institutional investors to promote long-term infrastructure investment. GPSS's membership aligns with its corporate philosophy of sustainable society construction.
• JGインフラデットサービシーズ株式会社minorStrategic or Co-development Partner · 24 April 2019GPSS Holdings and JA Mitsui Leasing co-established JG Infra Debt Services Inc. (capital: 6 million yen) to provide infrastructure debt to renewable energy projects at greenfield development stage. The first project funded was a 25 MW solar plant in Hirono Town, Fukushima Prefecture (operator: Hirono Town Sustainable Energy GK). This addresses early-stage financing gaps in renewable energy development.
• Mirai Chiiki Corporation (株式会社みらい地域)minorStrategic or Co-development Partner · 1 January 2017Mirai Chiiki Corporation (established 2017) focuses on regional revitalization through sustainable agriculture and partners with GPSS Holdings on solar sharing projects including dairy farming integration in Hokkaido and cacao cultivation in Okinawa. Mirai Chiiki manages agricultural operations while GPSS handles solar development.
• Guardian Forest Project (公益財団法人鎮守の森のプロジェクト)minorOthersGPSS supports the Guardian Forest Project, modeled after forests that protected communities during the Great East Japan Earthquake and Great Hanshin Earthquake. The project builds regional green infrastructure for disaster resilience and coexistence with nature.
• 一般社团法人再生可能エネルギー長期安定電源推進協会 (REASP)minorOthersGPSS Holdings is a regular member of REASP, an industry organization working to promote renewable energy as a main power source and ensure long-term stable, affordable clean electricity supply for Japan's energy security and citizens.
• 松之山温泉合同会社 (Matsunoyama Onsen GK)coreStrategic or Co-development PartnerGPSS Group partnered with Matsunoyama Onsen (hot spring operators) and Matsunoyama Onsen GK Mannma to develop the 'Community Power Generation: The Matsunoyama Onsen' geothermal binary power plant (210 kW). The project utilizes thermal resources from the hot spring while maintaining hot spring supply. The community jointly owns the power plant with GPSS.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Emerging players

• wpd AG: wpd is a Germany-based renewable energy developer with ~7,000 MW of operating onshore wind and a 38 GW wind / 8 GW solar pipeline globally. It is GPSS's joint-venture partner for the Higashi Izu Furusato Wind Farm, and is comparable as an international multi-source wind/solar developer using similar project ownership and long-term off-take models.

Broad incumbents

• Tokyo Gas Co., Ltd. Tokyo Gas is a major Japanese energy company actively pursuing renewable energy development and corporate PPA origination as part of its decarbonization strategy. It competes directly with GPSS in Japan's renewable generation and corporate PPA markets while operating across a much broader gas and energy services portfolio.
• Osaka Gas Co., Ltd. Osaka Gas is a major Japanese utility actively expanding into renewable energy (target: 5 GW by FY2030) and is also an existing 50/50 joint-venture partner with GPSS in GDsPJ LLC. As a much larger incumbent with broader portfolio offerings (gas, electricity retail, international LNG), it competes with GPSS for high-value sites and corporate PPA customers while remaining a key ally.
• JERA Co., Inc. JERA is a major Japanese power generation joint venture between TEPCO and Chubu Electric, with growing renewable capacity (especially offshore wind) and ambitions in hydrogen and ammonia. Its scale and incumbent utility ownership create a broad competitive overlay with GPSS in the corporate PPA and renewable generation markets.
• ENEOS Holdings, Inc. ENEOS is Japan's largest petroleum and energy company, actively expanding into renewables, hydrogen, and next-generation energy. As a broad incumbent with vastly greater capital and incumbency, ENEOS competes for large-scale renewable sites and corporate PPAs and overlaps GPSS in the renewable electricity generation value chain in Japan.
• Kansai Electric Power Co., Inc. Kansai Electric is a major Japanese investor-owned utility with growing renewable generation assets and active corporate PPA activity as it decarbonizes its power mix. It is comparable to GPSS as a Japan-based electricity generator and could become a counterparty (off-taker) or competitive substitute in select markets.

Direct peers

• Pacifico Energy K.K. Pacifico Energy is a Japan-based renewable energy developer focused on utility-scale solar, wind, and battery storage development and operation. Both companies pursue project ownership (rather than sale) and long-term off-take structures in Japan, and are directly comparable in business model and target geographies.
• Renova, Inc. Renova is a Japanese multi-source renewable energy developer operating across solar, biomass, wind, and geothermal—closely mirroring GPSS's five-source platform. Both companies focus on developing, owning, and operating renewable assets in Japan via long-term utility off-take or corporate off-take arrangements, making it the most directly comparable independent Japanese renewables developer to GPSS.
• Eurus Energy Holdings Corporation: Eurus Energy is one of Japan's largest independent renewable energy developers with a portfolio spanning wind, solar, biomass, and geothermal in Japan and overseas. It shares GPSS's multi-source renewable development model and ownership-led approach, and both companies operate within Japan's FIT/FIP regulatory scheme.
• Japan Renewable Energy Corporation (RE): Founded with SoftBank backing, Japan RE is a large-scale Japanese renewable energy developer focused on utility-scale solar and wind under long-term power purchase agreements. It directly overlaps GPSS in project ownership, FIT/FIP sales channels, and corporate PPA origination for renewable projects in Japan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/gpssjp
• LinkedInlinkedin.com/company/gpss-holdings-inc

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries16 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about GPSS