JERA Completes Acquisition of Belgium’s Leading Offshore Wind Developer

Business & Finance

July 27, 2023, by Adnan Memija

JERA has completed the acquisition of 100 per cent of the shares of Parkwind NV from Belgium’s Virya Energy.

The initial agreement between JERA Green, an affiliate of Japan’s JERA, and Virya Energy was signed in March this year.

The transaction, which JERA said marks a significant milestone for the company and Parkwind and signals a strategic shift in the offshore wind industry, has been approved by competition and other regulatory authorities.

The acquisition implies an equity value of approximately EUR 1.55 billion.

Parkwind, founded in 2012, was one of the subsidiaries of Virya Energy and became the largest offshore wind platform in Belgium.

The company operates four offshore wind projects in Belgium, totaling 771 MW, and those are Belwind, Northwind, Nobelwind, and Northwester 2.

The recent completion of Arcadis Ost 1 adds another 257 MW in Germany’s Baltic Sea.

Parkwind also has stakes in foreign wind farms, which are either already under construction or partially operational, for instance, Oriel in Ireland. Additionally, there are several projects in the pipeline.

“This partnership represents a significant milestone for our company and aligns perfectly with our long-term vision of creating a sustainable future powered by renewable energy. With the combined expertise and resources from both JERA and Parkwind, we are confident in our ability to accelerate our growth, expand our portfolio, and contribute even more to the global clean energy transition”, said François Van Leeuw and Eric Antoons, co-CEO’s of Parkwind NV.

YOU MIGHT ALSO LIKE

JERA was established in 2015 by Tokyo Electric Power Company and Chubu Electric Power Company.

The company has a current portfolio of 2 GW of operating renewables capacity and has been actively investing in and developing renewables and offshore wind on a global scale, for example, Formosa 2 offshore project in Taiwan and offshore wind development in Japan, including floating wind.

By adding Parkwind’s offshore projects to the existing portfolio of offshore wind projects in Taiwan and the United Kingdom, JERA said it will be able to increase its renewables capacity and potential to further diversify the existing renewable energy offerings.

“We are excited to welcome the talented team of Parkwind to the JERA family. Their strong track record and excellent in-house development and team capabilities will help us to grow our ambitions of scaling up our renewable capabilities globally”, said Nathalie Oosterlinck, Managing Executive Officer, Head of the Global Renewable Energy Division, JERA.