View of a U.K. offshore wind farm. (Photo: Christopher Furlong)
The U.K.'s renewable energy industry received a major boost on Monday (April 15, 2024) after Japan's largest power company – JERA – selected the country's capital London as the location of its global renewables business headquarters.
The move follows a decision by JERA to launch JERA Nex, the power company's new dedicated global renewable energy business to "develop, invest in, own and operate a range of renewable energy assets, including offshore and onshore wind, solar and battery storage."
"As the world's 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 U.K.'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 added.
The newly-launched JERA Nex's ambition is to develop 20GW of renewable capacity by 2035. To achieve this, the new business entity will also consider "selective acquisition opportunities" and establish partnership opportunities to "build a robust pipeline for 2035 and beyond."
While the strategy will of course be contingent upon prevailing economic conditions, JERA Nex intends to target "high quality projects" and apply strict investment criteria as it works towards its ambition.
JERA's wider hope is that JERA Nex can help achieve scale at the pace required to substantialize its own group-wide commitment to decarbonization. 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 its 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 center of excellence in renewables, signifying the next stage of JERA’s growth."
Yukio Kani, Global CEO and Chair of JERA, noted: "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.
"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."
Nathalie Oosterlinck, the current Head of Global Renewables at JERA, will take on the role of CEO of JERA Nex.
"With the launch of JERA Nex, we are bringing together passionate renewable energy people from across the world," Oosterlinck said.
"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," she added.
Alongside its new London Headquarters, and JERA Nex's centers of excellence will be in Belgium, Taiwan, the US and Japan, with a team of more than 300 global renewable and energy industry experts.
