Japanese power company Jera has created a subsidiary that will develop 20GW of renewable capacity by 2035.
Headquartered in London, UK, Jera Nex will develop, invest in, own and operate renewable energy assets including solar, battery storage and wind.
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Most of the operational assets and development pipeline of 10GW will be transferred to Jera Nex. The current solar and battery storage assets are located in the Middle East, Asia and North America.
The company will consider acquisition opportunities and partnerships to build its pipeline in the coming decade and beyond in order to grow from 3GW to 20GW of renewables by 2035,
Nathalie Oosterlinck, head of global renewables at JERA, will take on the role of CEO of JERA Nex.
Yukio Kani, Global CEO and Chair of JERA said: “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 decarbonised energy with sustainability, affordability and stability.”
Jera was established in 2015 as a joint venture between Japanese electric companies Tokyo Electric Power Group (TEPCO) and the Chubu Electric Power Group.
In its home country of Japan, Jera partnered with solar construction firm West Holding Corporation in 2022 to develop 1GW of solar PV in Japan between 2022 and 2027.
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