JERA Co., Japan's largest power company, has established a new global renewable energy business, JERA Nex, headquartered in London, aiming to accelerate its low-carbon investments to meet decarbonization targets, according to the unit's chief executive Nathalie Oosterlinck in an interview with Reuters.
JERA Nex will focus on developing, investing in, owning, and operating renewable energy projects, including onshore and offshore wind, solar energy, and battery storage. The unit will start with a 3 gigawatt (GW) portfolio of renewable assets and aims to develop 20 GW of renewables capacity by 2035, considering investments worldwide as well as in its home market of Japan.
Oosterlinck outlined the unit's strategy, emphasizing a focus on capacity expansion through strategic acquisitions, partnerships, and independent project development. JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power Co Inc, is committed to achieving net-zero carbon dioxide emissions by 2050.
In recent developments, JERA purchased Parkwind, Belgium's largest offshore wind platform, and, in partnership with IKEA store owner Ingka, won the first Norwegian auction to develop a 1.5 GW offshore wind farm in the southern Norwegian North Sea.
Additionally, in Japan's second round of offshore wind tenders last year, JERA secured rights to develop a 315-megawatt wind farm as part of a consortium with Electric Power Development, Itochu, and Tohoku Electric Power.
Looking ahead, Oosterlinck expressed ambitions for floating offshore wind projects, particularly in island nations like Britain and Japan, due to their well-suited water depths. She noted that while these projects will take time to develop, JERA is exploring opportunities in floating offshore wind, including potential projects in Japan.
