Akihabara News (Tokyo) — JERA has confirmed its intention to make a big move into the solar energy market in Japan, seeking to acquire or develop a total installed capacity of over 1GW by March 2026.
1GW is the approximate energy generation capability of a nuclear reactor.
To help realize its ambition, JERA has finalized a business alliance with renewables engineering firm West Holdings Corporation, including the purchase of about 2.3% of West HoldIngs’ outstanding shares.
Under the agreement, the two companies will develop solar power projects at new sites and at former JERA power plant sites within Japan. With 1GW of capacity, JERA would become of the largest players in Japan’s solar power industry.
JERA’s previous investments in solar power have all been overseas, mainly in India.
JERA was founded in April 2015 as a 50-50 joint venture of Tokyo Electric Power Company and Chubu Electric Power Company, and it is now the largest power generation company in Japan, producing about 30% of the nation’s electricity.
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