Skip to main content

Japan utility plans purchase of Belgium’s largest offshore wind platform

March 22, 2023


Japan's top utility JERA has agreed to buy Parkwind, Belgium's largest offshore wind platform, for 1.55 billion euros ($1.7 billion), as it expands in renewable power to meet decarbonisation goals.

JERA, a joint venture between Tokyo Electric Power Company Holdings (9501.T) and Chubu Electric Power Co Inc (9502.T), will add Parkwind's four offshore wind farms in Belgium and a new wind farm being built in Germany to its renewable portfolio through the deal.

The acquisition will increase JERA's renewable energy assets, which include existing offshore wind investments in Taiwan and the United Kingdom, to 2.8 gigawatts (GW) from 2.2 GW as of the end of 2022.

"We want to gain Parkwind's know-how and knowledge of offshore wind power projects in Europe that can be utilized in JERA's existing wind farms and new projects mainly in Asia," Ken Matsuda, the head of JERA's overseas offshore wind power business group, told a news conference.

JERA aims to boost its renewable power assets to 5 GW by March 2026 through new development and acquisitions, he added.

[Katya Golubkova and Yuka Obayashi]

More: Japan's JERA to buy Belgium's top offshore wind company for $1.7 bln

Join our newsletter

Keep up to date with all the latest from IEEFA