JERA, a 50-50 joint venture between TEPCO Fuel & Power — a wholly owned subsidiary of Tokyo Electric Power Company — and Chubu Electric Power, has acquired Parkwind, Belgium’s largest offshore wind platform, from Virya Energy. The acquisition implies an equity value of approximately €1.55 billion ($1.7 billion).
Parkwind is an independent green-energy company that develops, finances and operates offshore wind farms. The company operates four offshore wind projects in Belgium, totaling 771 megawatts. Parkwind is currently expanding internationally and has an active development pipeline of 4.5 gigawatts (net) across a number of European and other markets, where it is working with a number of credible partners. Parkwind is also constructing the 257-megawatt Arcadis Ost 1 project in Germany, which is expected to reach full operations in 2024.
With the acquisition of Parkwind, JERA aims to accelerate renewables and offshore wind activities in Europe and across t