Japan's Power Giant JERA Launches Global Renewables Business in London
First published onLondon Climate Technology Show ↗
15 April, 2024: The UK's renewable energy sector got a significant boost after Japan's leading power company, JERA, chose London as the site for its global renewable energy business headquarters.
The decision comes after JERA launched JERA Nex, the company's new specialised global renewable energy venture, with the aim to develop, invest in, own, and operate various renewable energy assets, such as offshore and onshore wind, solar, and battery storage.
As the world’s second-largest offshore wind market and a leader in renewable energy advancements, the United Kingdom will host the global headquarters of JERA Nex. Benefiting from the U.K.'s proficiency in financing and executing renewable projects, JERA Nex aims to harness its substantial talent pool to enhance capabilities in key markets and broaden its global project pipeline.
The recently established JERA Nex aims to build 20 GW of renewable energy capacity by 2035. To reach this goal, the new company will explore carefully chosen acquisition prospects and create partnerships to develop a strong project pipeline for 2035 and the future.
While the approach will naturally depend on current economic circumstances, JERA Nex plans to focus on high-quality projects and will adhere to rigorous investment standards as it pursues its goals.
JERA aims for JERA Nex to accelerate the scale needed to effectively realise its group-wide decarbonisation goals. Since unveiling "JERA Zero CO2 Emissions 2050" in 2020, JERA has been actively expanding and advancing its global renewables portfolio through investments and development.
Most of JERA's existing operational assets and its development pipeline of 10GW will be shifted to JERA Nex, establishing it as a centre of excellence in renewables and marking the next phase of JERA’s expansion.
JERA's decision to launch its global renewables business in London marks a transformative moment for the company and the broader renewable energy landscape. By centralizing its green energy operations in one of the world's leading financial and innovation hubs, JERA is demonstrating a proactive approach to advancing sustainable energy solutions on a global scale. This strategic initiative not only amplifies JERA's role in the renewable energy sector but also signals its commitment to driving meaningful change and contributing to a more sustainable future for the planet.
