JERA, a Japanese energy company, has signed an agreement with Virya Energy to acquire 100 per cent of the shares of Parkwind, Belgium’s top offshore wind company, in a $1.7 billion deal.  JERA is a partnership between Chubu Electric Power Company and Tokyo Electric Power Company.

JERA aims to achieve net-zero operations by 2050. Virya Energy has agreed to sell the project’s four offshore wind farms located in Belgium. Parkwind can currently power 800,000 households with its 771 MW capacity spread over 201 turbines. The company additionally works on 1.1 GW more projects, some of which are in Germany and Ireland.

In August 2022, JERA, through its subsidiary JERA Asia, agreed to purchase a 35.1 per cent stake in Gia Lai Electricity (GEC), a Vietnam-based renewable energy company. For an undisclosed sum, JERA would purchase the stake from Armstrong South East Asia Clean Energy Fund and International Finance Corporation (IFC).