Power Generation, Transmission and Distribution 2026

JAPAN Trends and Developments

Trends and Developments Contributed by: Takahiro Kobayashi, Shigeki Okatani, Yusuke Murakami and Hirohiko Tanaka Mori Hamada

Mori Hamada has a leading energy and infrastructure practice, supported by approximately 39 partners, four counsels, and 73 associates. Headquartered in Tokyo, the firm has eight offices in Japan and 11 in- ternational offices across Asia and the United States, with a London office planned for 2026. The practice advises on a broad range of matters, including pro- ject development and construction, project finance, acquisitions, regulatory issues, and market entry

into Japan. Mori Hamada has extensive experience in pioneering projects, particularly in project finance, renewable energy, and energy transition-related ini- tiatives. The firm also maintains strong relationships with key Japanese authorities and industry bodies, including the Agency for Natural Resources and En- ergy and the Organization for Cross-regional Coordi- nation of Transmission Operators.

Authors

Takahiro Kobayashi advises on a broad range of energy-related transactions at Mori Hamada, including project financing for the construction of state-of-the-art thermal power plants and for solar

Yusuke Murakami has advised major investors, developers and contractors both in and outside Japan on a wide range of energy projects covering the full spectrum of project stages – development, project finance,

power, onshore and offshore wind power, biomass, geothermal power and other renewable energy projects. These include non-FIT/FIP projects using corporate PPAs, alliance and M&A transactions among energy-related companies, and hydrogen and ammonia-related legislation framework, as well as regulatory and licensing matters. Kobayashi was admitted to the Bar in Japan in 1998 and in New York in 2003.

construction, M&A, joint venture and dispute resolution. His practice at Mori Hamada covers a broad range of energy sectors, including solar, onshore/offshore wind, BESS, thermal, oil and gas, hydrogen, ammonia, CCS and CPPA/power trading. He is also strong in cross-border projects, having been seconded to the project finance team of Allen & Overy (London) in 2012–13. He is admitted to the Bar in Japan and in New York.

Shigeki Okatani has extensive experience in advising domestic and foreign sponsors and lenders on many renewable, batteries and hydrogen-related projects in Japan and other Asian countries. In his

Hirohiko Tanaka of Mori Hamada has advised on numerous energy projects, both within Japan and internationally, including large-scale thermal power plants and a broad range of renewable energy projects. He has

practice at Mori Hamada, he has represented a project company and its sponsors in the first offshore wind project in Japan (financial closing: February 2020). He also advises on regulatory matters related to such projects, including the regulation of electricity businesses, electricity safety, construction, labour and the environment. He also advises foreign clients on corporate PPAs and electricity trading in Japan.

recently been engaged in pioneering projects, including offshore wind power, hydrogen power and battery-energy storage systems. Additionally, he has extensive experience advising on M&A transactions, including joint ventures in the energy sector. He was admitted to the Bar in Japan in 2013.

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