Tesla has entered into an agreement to supply Megapacks to ORIX, a prominent Japanese financial services group. The partnership will see one of Japan’s largest power storage facilities built in Maibara, Shiga Prefecture, with operations slated to start as early as 2027.
The planned facility will be equipped with Tesla’s Megapack batteries, boasting a combined capacity of 548 megawatt-hours (MWh), according to a report from Nikkei. By integrating Tesla’s advanced energy storage solutions, the project aims to enhance grid stability and support Japan’s transition to sustainable energy.
ORIX was founded in 1964 and has evolved into a diversified financial services group headquartered in Tokyo and Osaka, Japan. The company operates across various sectors, including leasing, lending, life insurance, real estate financing and development, venture capital, investment and retail banking, and securities brokering. ORIX has also expanded globally, offering financial services in North America, Asia, the Middle East, and Northern Africa.
Tesla’s Megapack have quicly become a preferred choice for large-scale energy storage worldwide. In 2024, Tesla’s energy storage deployments reached a record 31.4 gigawatt-hours (GWh), more than doubling from 14.7 GWh in 2023. The company anticipates a further 50% growth in storage deployments in 2025.
To support that growth, Tesla has recently opened its second Megafactory in Shanghai, China. This new facility, along with the original Megafactory in Lathrop, California, have a combined capacity to produce 20,000 Megapacks annually, or 80 gigawatt-hours (GWh) of energy storage. During the Q4 2024 earnings call, Elon Musk quietly announced a third Megafactory, although the timing of this facility, or its location, was not announced.
