Japan’s Jera has announced that it intends to acquire the Belgian offshore wind power generation firm Parkwind for €1.55 billion. With the buyout, Jera, which is jointly owned by TEPCO Holdings and Chubu Electric Power Co., aims to acquire technology and expertise for use in its Asian operations.

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World Utilities Congress 2027

Jera has concluded an agreement to purchase all Parkwind shares. It hopes to complete the acquisition by the end of this year after necessary procedures including approval from Belgian authorities.

Jera has set itself a target of increasing its renewable power generation capacity to 5 GW by 2025. The acquisition of Parkwind will expand its capacity by 600 MW to 2.8 GW.