Jera targets 20GW renewable power capacity by 2035-36

Japan's largest power producer by capacity Jera has renewed its renewable power output target to 20GW by the 2035-36 fiscal year ending 31 March, in line with the acceleration of its offshore wind power presence in Europe.

Jera originally planned to increase its renewable power portfolio to 5GW by 2025-26 in its business plan in 2019. But the acquisition of Belgian offshore wind firm Parkwind accelerated the plan and renewable power output will be 3.4GW this year, Jera said. It last month set up a 100pc subsidiary Jera Nex in UK to achieve the new target.

Jera last month won an auction to develop a 1.5GW offshore wind farm in Norway's North Sea Sorlige Nordsjo II through Ventyr, a joint venture between Parkwind and Netherlands-based Ingka Investments. The new firm is specialising in global renewable energy and will cover new projects in Norway.

By Reina Maeda