Japan’s largest power generation group is moving into renewable energy in a big way, agreeing to a deal to buy Belgium’s biggest player in offshore wind.
JERA, a joint venture between Tokyo Electric Power Company Holdings (TEPCO) and Chubu Electric Power, on March 22 said it has a definitive agreement with Belgium’s Virya Energy to acquire wind energy developer Parkwind for about $1.7 billion. The deal includes four offshore wind projects with total generation capacity of 771 MW, along with a new wind farm being built in Germany (Figure 1).
The Belgian projects feature 201 turbines across the four sites. Parkwind also has 1.1 GW of wind energy projects in development elsewhere, including in Germany and Ireland.
