Japan's top utility JERA has agreed to buy Parkwind, Belgium's largest offshore wind platform, for €1.55 billion ($1.7 billion), as it expands in renewable power to meet decarbonization goals.
JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power, 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.
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