Jera to buy Belgian offshore wind player Parkwind for EUR 1.55bn

Japanese utility Jera Co Inc said today it has agreed to acquire offshore wind player Parkwind NV from Belgian holding company Virya Energy NV for an equity value of almost EUR 1.55 billion (USD 1.67bn).

Parkwind operates four offshore wind farms in Belgium with a combined capacity of 771 MW and is building the 257-MW Arcardis Ost project in Germany. In addition, it has a development pipeline of 4.5 GW net in Europe and elsewhere.

The transaction is expected to close later in 2023. The parties will also discuss the option for Virya to re-invest in a minority holding in Parkwind’s Belgian wind farms, as well as a partnership on future opportunities in Belgium.

Virya, which started assessing strategic options for Parkwind last summer, struck the deal with the Japanese buyer after a competitive sales process over the past several months.

Jera expects the acquisition to give it a platform to grow its renewables business globally, especially in offshore wind. It will be providing complementary capabilities and financial support to help Parkwind “blossom, in a world where offshore wind will continue to play an instrumental role in facilitating the global energy decarbonisation.”

“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,” stated Nathalie Oosterlinck, executive officer, global head offshore wind at Jera.

(EUR 1 = USD 1.078)

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