The largest electrical power firm in Japan confirmed the development of a new global renewable energy company, with its headquarters in London. JERA, established in 2015 as a joint venture between TEPCO Fuel & Power and Chubu Electric Power, stated that its JERA Nex business aims to deploy over 20 GW of renewable energy capacity by 2035.

Representatives of JERA said the combination of JERA’s resilience with the agility and focus of a dedicated renewable energy business means JERA Nex will be a firm that can achieve scale at the pace needed to achieve their decarbonisation plans.

In 2020, JERA announced its JERA Zero CO2 Emissions 2050 plan, and since then has developed a portfolio of renewable energy projects worldwide. Last year, JERA acquired Parkwind, the largest offshore wind developer in Belgium, increasing their renewable energy capacity to 3GW.

Last week, JERA confirmed that most of its existing operational assets and its 10GW pipeline will be managed by JERA Nex. Nathalie Oosterlinck will become the CEO of the new firm after managing the renewable energy arm of JERA. The business will explore acquisition opportunities and create new partnerships to expand its portfolio.

Company officials have explained that the UK was chosen as its headquarters for JERA NEX because of their expertise in financing and developing renewable energy projects and to utilise its large talent pool in core markets and expand its pipeline. JERA highlighted that the UK is the world’s second-largest offshore wind market and a global leader in renewable energy development.

Yukio Kani, global CEO and chair of JERA explains that they have a vision to achieve zero emissions by 2050, and the formation of JERA Nex will play a vital role in reaching that goal. JERA Nex will enable the company to use expertise to develop renewable energy projects and establish partnerships and assets that support decarbonised energy with sustainability and stability.

Ooseterlinck explains that the launch of JERA Nex brings together the passion of renewable energy people worldwide. The new CEO highlights that the company has delivered innovative offshore wind projects and led several onshore projects, making JERA Nex well-positioned to create clean energy for the future. Oosterlinck states that the new business will look to develop floating offshore wind projects, emphasising that these are appropriate to island nations. JERA Nex will have several centres of excellence in Japan, the US, Belgium and Taiwan. The business said it will hire a team of over 300 global renewable energy industry experts.

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