HINODE ENERGY

What HINODE ENERGY does

HINODE ENERGY K.K. (ヒノデ・エナジー) is a Tokyo-headquartered solar power plant developer in Japan, originally established in July 2016 and operating under its current brand since 2021. The company is structured as a joint venture between Blueleaf Energy and Univergy International (Spain), with ownership held by funds managed by Macquarie Asset Management (Australia). It employs approximately 18 people as of August 2025 and develops large-scale industrial solar power plants (mega-solar), typically 2MW or larger, with a development pipeline exceeding 500MW across Japan.

Its core product portfolio comprises three solar installation types: mega-solar (special high-voltage grid-integrated plants of 2MW+), ground-mounted solar on idle land and unfarmed agricultural land, and floating solar arrays on lakes and reservoirs. The company emphasizes environmental impact minimization by avoiding mountain excavation and large-scale deforestation. Technical execution is supported by in-house expertise across project evaluation, land acquisition, power applications, design, and permitting, with Blueleaf Energy handling construction and post-operational management.

Hinode generates revenue through long-term non-FIT Corporate Power Purchase Agreements (PPAs), selling electricity directly to corporate customers outside Japan's traditional feed-in tariff system. Its three primary customer segments are landowners with idle or fallow land, local governments pursuing decarbonization strategies aligned with Japan's 2030 and 2050 targets, and corporations seeking renewable energy procurement for ESG and zero-carbon goals. The go-to-market is enterprise field sales with direct B2B engagement, supported by a nationwide marketing presence.

Name

HINODE ENERGY

Legal name

HINODE ENERGY株式会社

Website

https://hinodeenergy.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

HINODE ENERGY is a Tokyo-based solar power plant developer and joint venture between Blueleaf Energy and Univergy International, backed by Macquarie Asset Management. It develops 2MW+ mega-solar, ground-mounted, and floating solar projects across Japan, selling electricity via non-FIT Corporate PPAs to corporations and local governments.

Ownership category

akta.pro rank

Product category

Solar Power Generation / Renewable Energy Development

NAICS

Solar Electric Power Generation (221114)

SIC

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

Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE)

Keywords

• Solar power development
• Renewable energy projects
• Corporate PPA supply
• Floating solar plants
• Land acquisition services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Solar Power Generation and Sale via Corporate PPA: Hinode Energy develops solar power plants and sells electricity through non-FIT (Feed-in Tariff) Corporate Power Purchase Agreements (PPA) directly to corporate customers. This is the primary revenue stream, operating independently of traditional government-mandated FIT systems.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

HINODE ENERGY develops, owns, and operates utility-scale solar power plants in Japan, including mega-solar (ground-mounted) and floating solar installations. The company manages the full project lifecycle—from site identification and land acquisition, permitting, EPC coordination, and long-term operation—and sells the generated electricity to corporate buyers through non-FIT corporate Power Purchase Agreements (PPAs), alongside working with local governments on renewable energy deployment.

Product overview

HINODE ENERGY operates as a full-service developer of renewable energy projects, primarily focusing on solar power generation. The company's core product portfolio includes three main solar installation types: Mega-Solar (large-scale industrial power plants of 2MW+ with special high-voltage grid integration), Ground-Mounted Solar (stand-alone installations utilizing idle land and unused farmland), and Floating Solar Power Plants (panels installed on lakes and reservoirs). These are supported by service offerings including land acquisition expertise, Corporate PPA agreements for non-FIT electricity supply, and cooperation with local governments nationwide. The company maintains a development pipeline exceeding 500MW across Japan, with projects coordinated with shareholder Blue Leaf Energy for construction and post-operational management.

Differentiator

Problem solved

Functional benefit

Products and services

• Mega-Solar (Ground-Mounted Solar Power Plant) Development

Quantifiable outcome

• 500MW+ project pipeline in development across Japan
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Blueleaf Energy (ブルーリーフ・エナジー)coreStrategic or Co-development PartnerBlueleaf Energy is a joint venture partner and shareholder of Hinode Energy. The company oversees construction and post-operational management of Hinode Energy's solar development projects, ensuring seamless execution from development through operations. Hinode Energy's development projects are closely coordinated with Blueleaf Energy.
• Univergy International (Spain)coreStrategic or Co-development PartnerUnivergy International (Spain) is a joint venture partner and shareholder of Hinode Energy, bringing international renewable energy development expertise from Spain to the Japanese market.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Renova Energy: Japanese renewable energy developer developing solar, wind, and biomass projects. Comparable to Hinode as a domestic multi-technology renewable developer with utility-scale projects, though it has a longer operating history and broader technology mix.
• Pacifico Energy: Japan-focused solar and renewable energy IPP/developer with a multi-hundred-MW pipeline and a strong Corporate PPA focus. Directly comparable to Hinode Energy in target market (Japan), technology (utility-scale solar), and business model (non-FIT Corporate PPA).
• Shizen Energy: Japanese renewable energy developer (formerly SB Energy) focused on solar, wind, and hydro projects, with a strong Corporate PPA origination capability. Comparable to Hinode as a Japan-based renewable IPP serving corporate off-takers under non-FIT arrangements.
• Univergy International: Spanish renewable energy developer and Hinode Energy's JV partner and shareholder, with projects in Spain, Latin America, and Asia. Comparable as an international renewable developer with utility-scale solar expertise brought into the Japanese market via the Hinode JV.
• Eurus Energy Holdings: One of the largest Japanese wind and solar developers, with a multi-GW portfolio of operating and development projects. Comparable to Hinode as a Japanese renewable IPP, but with much larger scale, broader technology mix, and longer track record.
• ib vogt GmbH: German-headquartered solar project developer with global development pipeline and integrated EPC/O&M capabilities. Comparable to Hinode as a pure-play utility-scale solar developer with Corporate PPA focus, though with a longer track record and broader geographic footprint.
• Blueleaf Energy: Asia-Pacific solar developer and Hinode Energy's JV partner and shareholder, handling construction and O&M. Highly comparable as a regional solar developer active in Japan and other APAC markets, with overlapping pipeline geography and project execution capabilities.

Broad incumbents

• Marubeni Clean Power: Renewable energy arm of major Japanese trading house Marubeni, developing and operating large-scale solar, wind, and biomass assets globally. Comparable to Hinode in target market and Corporate PPA orientation, but with vastly greater capital, geographic reach, and operational scale.
• Sonnedix: Global solar IPP with a multi-GW operating and development portfolio, historically backed by institutional infrastructure investors. Comparable to Hinode as a solar-only IPP serving corporate off-takers via PPAs, though at much larger scale and across multiple geographies.
• Lightsource bp: Global solar developer and IPP focused on utility-scale projects and corporate renewable PPAs. Comparable to Hinode in business model (non-subsidized corporate PPAs) and solar-only focus, but operates at vastly larger scale across multiple continents.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HinodeEnergy
• Facebookfacebook.com/HinodeEnergy
• LinkedInlinkedin.com/company/hinodeenergy
• Instagraminstagram.com/hinode_energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 HINODE ENERGY