- JERA has launched a new renewable energy company with its headquarters in London
- It is mandated to build a combined 20 GW clean energy capacity globally by 2035
- JERA Nex Limited will focus on offshore and onshore wind along with solar and battery storage projects
Japan’s largest power company JERA has established a new renewable energy entity through which it plans to develop a combined 20 GW renewable energy capacity globally by 2035.
JERA said the new entity JERA Nex Limited will help it achieve scale at the pace required to realize its decarbonization target for 2050 to achieve net zero from domestic and overseas businesses.
Headquartered in London, JERA Nex will develop, invest in, own and operate projects comprising offshore and onshore wind, solar and battery storage capacity. Its parent, with its 3 GW installed renewables capacity, will transfer the majority of its operational and development pipeline of 10 GW from its portfolio to the new company.
The portfolio comprises offshore wind projects in Europe, Taiwan and Japan, and onshore wind, solar and battery storage assets in the Middle East, Asia and North America. In a partnership with West Holdings Corporation, JERA targets to build more than 1 GW solar in Japan by 2026 (see New Alliance For 1.1 GW Solar In Japan).
JERA Nex will also consider selective acquisition opportunities and explore partnerships to build a robust pipeline for 2035 and beyond. Explaining the rationale behind a UK-based company, JERA said the new entity will ‘leverage the UK’s expertise in financing and developing renewables projects, as well as draw on its significant talent pool to develop capabilities in core markets and expand its pipeline globally.’
JERA’s Head of Global Renewables Nathalie Oosterlinck will lead JERA Nex as its CEO.
