Japan’s largest power company JERA creates global renewables business headquartered in London

JERA Co., Inc., Japan’s largest power company, on Monday announced the creation of JERA Nex Limited, a new global renewable energy business that will develop, invest in, own and operate a range of renewable energy assets, including offshore and onshore wind, solar and battery storage.

By combining the resilience of JERA, one of the world’s largest electricity producers, with the agility and focus of a dedicated renewables business, JERA Nex will be a renewable energy company that can achieve scale at the pace required to further boost JERA’s commitment to decarbonisation, the company said in a statement.

Since the announcement of “JERA Zero CO2 Emissions 2050” in 2020, JERA has been actively investing in and developing a renewables portfolio globally. In July 2023, JERA acquired Parkwind, Belgium’s largest offshore wind platform, boosting JERA’s total renewable installed capacity to 3GW. The majority of operational assets and the development pipeline of 10GW which JERA has built will be transferred to JERA Nex to create a centre of excellence in renewables, signifying the next stage of JERA’s growth.

Nathalie Oosterlinck, Head of Global Renewables at JERA, will take on the role of CEO of JERA Nex.

“We have outlined a vision to reach zero emissions by 2050, and the birth of JERA Nex plays a critical role in our strategic pillars for delivering that ambition,” Yukio Kani, Global CEO and Chair of JERA, said in a statement.

“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.,” he added.

JERA’s ambition is to develop 20GW of renewable capacity by 2035, and to achieve this JERA Nex will also consider selective acquisition opportunities and establish partnership opportunities to build a robust pipeline for 2035 and beyond. This 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, it said.

“With the launch of JERA Nex, we are bringing together passionate renewable energy people from across the world,” said Nathalie Oosterlinck, CEO of JERA Nex. “Our teams have already delivered pioneering offshore wind farms, 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.”

As the second largest offshore wind market and a global leader in renewables development, the United Kingdom will be home to JERA Nex’s global headquarters. JERA Nex 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.