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

• JERA launches JERA Nex to consolidate its renewables activity, create a centre of excellence, and accelerate the growth of its global clean energy platform.
• JERA Nex launches with an ambition to develop 20GW of renewable capacity by 2035.
• As a global leader in renewables development, the UK has been selected as the location for JERA Nex’s HQ.
• Led by experienced renewables specialists and backed by JERA, JERA Nex combines agility and resilience to scale at pace.

TOKYO AND LONDON, APRIL 15 2024: JERA Co., Inc. (“JERA”), Japan’s largest power company, today announces the creation of JERA Nex Limited (“JERA Nex”), a new global renewable energy business. JERA Nex 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 substantialize JERA’s 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 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.

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.

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.

JERA Nex is established on the belief that a flexible, agile, and experienced team of renewables specialists backed by a global integrated energy company, creates the platform required to scale a renewables portfolio at pace. The creation of JERA Nex aligns with JERA’s long-term vision to scale up its clean energy platform of renewables at speed, and is expected to make an important contribution to JERA’s Zero CO2 Emissions 2050 Roadmap.

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. 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.”

Yukio Kani, Global CEO and Chair of JERA

“With the launch of JERA Nex, we are bringing together passionate renewable energy people from across the world. Our teams that 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.”

Nathalie Oosterlinck, CEO of JERA Nex

About JERA Co., Inc.

Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for Japan’s Energy for a New Era, will take on the challenge of achieving net zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.

About JERA Nex

JERA Nex is a company created by JERA to scale renewable energy for a sustainable future. JERA Nex combines the resilience of JERA, one of the world’s largest electricity producers, with the agility and focus of a dedicated renewables business that can act at the pace required to drive the global energy transition.
JERA Nex invests in, currently owns and operates a portfolio of renewable energy assets, with a portfolio over 3GW that includes offshore wind, onshore wind and solar, as well as battery storage. Headquartered in London, and with centres of excellence in Belgium, Japan, Taiwan and the US, our team of more than 300 renewable and energy industry experts combines global knowhow and experience with the local expertise and knowledge necessary to deliver successful projects.

Contact details:

ben.hunt_communications@jeragreen.com

Jeranex@kekstcnc.com