TRENDE, a provider of renewable energy solutions in Japan, announced the completion of a JPY1.07 billion (~$7.2 million) funding round through third-party allocation.
The investment round was led by four new shareholders: Tokyo Century Corporation, National Federation of Agricultural Cooperative Associations (ZEN-NOH), Zen-Noh Energy Corporation, and Toshiba Infrastructure Systems & Solutions Corporation.
As part of these new partnerships, TRENDE is working with Tokyo Century to strengthen its finance and asset management strategies, supporting the expansion of its renewable energy leasing services. Additionally, through its retail electricity brand “JA Denki,” TRENDE is collaborating with Zen-Noh Energy to pilot a peer-to-peer (P2P) electricity trading program in Gunma Prefecture.
Meanwhile, in Ehime Prefecture, TRENDE has partnered with Toshiba on the “Digital Implementation Acceleration Project,” integrating Toshiba’s Vehicle-to-Everything (V2X) technology into its P2P electricity trading platform.
TRENDE offers renewable energy solutions in Japan through its solar and battery leasing service, known as Teraris, and its peer-to-peer (P2P) electricity trading platform. This funding will be used to expand its solar and battery leasing services and to further the energy trading platform.
The company is also backed by major investors such as Itochu Corporation, Idemitsu Kosan, and Dubai Electricity and Water Authority (DEWA).
“We are thrilled to welcome these esteemed companies as strategic investors and partners. Their expertise and resources will significantly enhance our ability to deliver innovative renewable energy solutions at scale. Together, we aim to accelerate Japan’s transition toward a decentralized, low-carbon future,” said Masashi Nishio, CEO of TRENDE.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A Report, Global VC and private equity funding in the solar sector in 2024 came to $4.5 billion in 60 deals, 36% lower than the $7 billion raised in 70 deals in 2023. There were 14 VC funding deals of $100 million or more in 2024.
Last year, Pine Gate Renewables, a solar project developer, secured a $650 million investment from Generate Capital, the Healthcare of Ontario Pension Plan (HOOPP), and HESTA. The transaction extends Generate Capital’s existing partnership with Pine Gate and brings new institutional investors to the solar developer’s platform.
