Japan’s largest power company is basing its new global renewables business in London. JERA Nex will develop, own and operate renewable assets, including offshore and onshore wind, solar and battery storage.
Attracted by Britain’s status as the world’s second biggest offshore wind market and a global leader in renewables development, JERA Nex – the acronym stands for ‘Japan New Era’ – has an ambition to develop 20GW of renewables worldwide by 2035, through selective acquisitions and partnerships.
Producing about 30% of all Japan’s electricity, the parent company JERA is a 50:50 joint venture formed in April 2015 by two electric leviathans, TEPCO Fuel & Power and Chubu Electric.
Tokyo Electric Power Company – TEPCO – is the firm responsible for the stricken Fukushima nuclear plant, flooded by a tsunami in 2011.
JERA committed in 2020 to zero carbon generation by mid-century. Its developing renewables portfolio grew to 30GW last July, with the purchase of Parkwind, Belgium’s largest offshore wind platform.
Parkwind and other operating assets, plus JERA’s 10GW development pipeline, will be transferred to JERA Nex.
The new division’s aim is to leverage the UK’s expertise in financing and developing renewables projects, as well as drawing on our talent pool to develop capabilities in core markets.
The new division will be headed by Nathalie Oosterlinck, pictured, currently head of global renewables at the parent JERA.
She 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 wind farms, from the Taiwan Strait to the North Sea, as well as leading several onshore projects across the world.”
Yukio Kani, the parent JERA’s chair and global CEO, 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 decarbonized energy with sustainability, affordability, and stability.”
The firm employs more than 300 renewable and energy industry experts.
