JERA Inc, Japan’s largest power company, has created a new global renewable energy business, JERA Nex
JERA is an equal joint venture of two electric power companies, TEPCO Fuel & Power and Chubu Electric and produces about 30% of all electricity in Japan. Newly formed JERA Nex will develop, invest in, own and operate a range of renewable energy assets, including offshore and onshore wind, solar and battery storage.
JERA described JERA Nex as “a renewable energy company that can achieve scale at the pace required to substantialise JERA’s commitment to decarbonisation.”
Since the announcement of ‘JERA Zero CO2 Emissions 2050’ in 2020, the company has been actively investing in and developing a renewables portfolio globally. In July 2023, it acquired Parkwind, Belgium’s largest offshore wind platform, boosting JERA’s total renewable installed capacity to 3 GW.
The majority of operational assets and the development pipeline of 10 GW which JERA has built will be transferred to JERA Nex to create a centre of excellence in renewables.
The company’s ambition is to develop 20 GW of renewable capacity by 2035. To achieve this, JERA Nex will consider selective acquisition opportunities and establish partnership opportunities to build a robust pipeline for 2035 and beyond. The company said the strategy “will be adaptive to prevailing economic conditions, and the company will target high-quality projects and apply strict investment criteria as it works towards its ambition.”
As the second-largest offshore wind market and a global leader in renewables development, the UK will be home to JERA Nex’s global headquarters and the company will leverage the UK’s expertise in financing and developing renewables projects and draw on its talent pool. JERA head of global renewables Nathalie Oosterlinck will take on the role of chief executive of JERA Nex.
JERA global chief executive and chair Yukio Kani said, “We have outlined a vision to reach zero emissions by 2050. The birth of JERA Nex plays a critical role in our strategic pillars for delivering that ambition. JERA Nex will enable us to draw upon expertise from across the world to develop renewable projects, forge partnerships, and build assets that contribute to a future of decarbonised energy with sustainability, affordability and stability.”
Ms Oosterlinck said, “With the launch of JERA Nex we are bringing together passionate renewable energy people from across the world.
“Our teams have already delivered pioneering offshore windfarms, from the Taiwan Strait to the Belgian North Sea, as well as leading several onshore projects across the world, making JERA Nex well placed to deliver clean energy for a sustainable future.”
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