Japan's JERA to pay $1.6B to buy Belgium's offshore wind leader Parkwind
Japanese energy company JERA said Wednesday it entered into an agreement to buy Parkwind, the largest offshore wind energy developer in Belgium.
File photo by Pat Benic/UPI | License Photo
March 22 (UPI) -- Japanese energy company JERA said Wednesday it reached a definitive agreement in Belgium to acquire wind energy developer Parkwind, the nation's largest offshore wind energy developer.
JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power, reached an agreement with Belgium's Virya Energy to buy the wind energy company for roughly $1.6 billion. Viyra had steered Parkwind to the top of Belgium's offshore wind energy portfolio, with four projects combining for 771 megawatts.
Construction is already underway for a 257 MW facility in Germany and there are further plans for a total of 4.5 gigawatts in the broader European economy.
"Parkwind is highly complementary with JERA's offshore wind strategy and ambitions, and we look to empower Parkwind to deliver on our vision and strategy," Nathalie Oosterlinck, an offshore wind executive at JERA, said. "JERA has the ambition to significantly advance the expansion of renewable and low carbon energy on a global scale."
March 22 (UPI) -- Japanese energy company JERA said Wednesday it reached a definitive agreement in Belgium to acquire wind energy developer Parkwind, the nation's largest offshore wind energy developer.
JERA, a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power, reached an agreement with Belgium's Virya Energy to buy the wind energy company for roughly $1.6 billion. Viyra had steered Parkwind to the top of Belgium's offshore wind energy portfolio, with four projects combining for 771 megawatts.
Construction is already underway for a 257 MW facility in Germany and there are further plans for a total of 4.5 gigawatts in the broader European economy.
"Parkwind is highly complementary with JERA's offshore wind strategy and ambitions, and we look to empower Parkwind to deliver on our vision and strategy," Nathalie Oosterlinck, an offshore wind executive at JERA, said. "JERA has the ambition to significantly advance the expansion of renewable and low carbon energy on a global scale."
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Japan is building up its wind energy footprint. Its Nikkei news agency reported last week that it's learned that U.S-based General Electric is looking to bring its largest offshore wind turbines to the Japanese market. At around 18 megawatts per installation, one turbine is enough to meet the energy demand of around 24,000 average households.
JERA played a roll in the development of the 128 MW Formosa project, the first ever commercial-scale offshore wind farm in Taiwan.
Belgium, for its part, is in the top 10 globally in terms of installed offshore wind energy capacity, the International Energy Agency estimates. But it's not yet fully moved away from fossil fuels. The total share of renewables on its grid more than doubled over the last decade, but that share represented only 13% of total energy demand as of 2020, the agency said.
Japan is building up its wind energy footprint. Its Nikkei news agency reported last week that it's learned that U.S-based General Electric is looking to bring its largest offshore wind turbines to the Japanese market. At around 18 megawatts per installation, one turbine is enough to meet the energy demand of around 24,000 average households.
JERA played a roll in the development of the 128 MW Formosa project, the first ever commercial-scale offshore wind farm in Taiwan.
Belgium, for its part, is in the top 10 globally in terms of installed offshore wind energy capacity, the International Energy Agency estimates. But it's not yet fully moved away from fossil fuels. The total share of renewables on its grid more than doubled over the last decade, but that share represented only 13% of total energy demand as of 2020, the agency said.
Italy's Eni announces plans for three new offshore wind farms
Italian energy company Eni announced plans to build three new offshore wind farms. The regional wind power capacity could support the needs of millions of average homes.
"This new agreement represents an additional strategic step and a firm commitment to strengthening the floating offshore wind industry in Italy, providing a significant contribution towards a low-carbon future as well as encouraging the development of the local supply chain," Eni said.
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Eni reported adjusted net profit for 2022 of $14.1 billion, its best performance in more than a decade. The company said natural gas was among its primary objectives, with the total share of natural gas in its production portfolio on pace to increase to 60% by 2030. It's been making strides, however, in some of the components necessary to lessen the global footprint of fossil fuels.
The company last month announced a prototype development called the Inertial Sea Wave Energy Converter was connected to the grid on the Italian island of Pantelleria, the first such connection of its kind.
It said later that it made preliminary arrangements with an offshoot of the Massachusetts Institute of Technology to accelerate the rollout of industrial-scale fusion, a near-limitless form of energy.
Italian energy company Eni announced plans to build three new offshore wind farms. The regional wind power capacity could support the needs of millions of average homes.
Photo by Pat Benic/UPI |
March 22 (UPI) -- New agreements for offshore wind in Italy could add to a growing capacity that could meet the energy demands of more than a million homes, Italian energy company Eni said Wednesday.
GreenIT, Eni's joint venture with Italy's CDP Equity and Copenhagen Infrastructure Partners, signed an agreement to build three floating wind farms off the coast of Italy that would boast an overall capacity of approximately two gigawatts of energy.
Two are slated for offshore Sardinia and another is tapped for Latium, near the country's midwestern coast. All told, the partners said total offshore wind capacity could be enough to satisfy the demands of 2.5 million average homes.
March 22 (UPI) -- New agreements for offshore wind in Italy could add to a growing capacity that could meet the energy demands of more than a million homes, Italian energy company Eni said Wednesday.
GreenIT, Eni's joint venture with Italy's CDP Equity and Copenhagen Infrastructure Partners, signed an agreement to build three floating wind farms off the coast of Italy that would boast an overall capacity of approximately two gigawatts of energy.
Two are slated for offshore Sardinia and another is tapped for Latium, near the country's midwestern coast. All told, the partners said total offshore wind capacity could be enough to satisfy the demands of 2.5 million average homes.
"This new agreement represents an additional strategic step and a firm commitment to strengthening the floating offshore wind industry in Italy, providing a significant contribution towards a low-carbon future as well as encouraging the development of the local supply chain," Eni said.
RELATED U.S. energy data suggest waning demand for petroleum-based products
Eni reported adjusted net profit for 2022 of $14.1 billion, its best performance in more than a decade. The company said natural gas was among its primary objectives, with the total share of natural gas in its production portfolio on pace to increase to 60% by 2030. It's been making strides, however, in some of the components necessary to lessen the global footprint of fossil fuels.
The company last month announced a prototype development called the Inertial Sea Wave Energy Converter was connected to the grid on the Italian island of Pantelleria, the first such connection of its kind.
It said later that it made preliminary arrangements with an offshoot of the Massachusetts Institute of Technology to accelerate the rollout of industrial-scale fusion, a near-limitless form of energy.
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