JERA will join the operating 172.8MW Gunfleet Sands Offshore Wind Farm project built in the Northern Thames Estuary in the UK by acquiring a stake of 24.95% from Marubeni for an undisclosed price.
The Gunfleet Sands Offshore Wind Farm project is located off the coast of Essex County in the southeastern part of the UK.
Comprising 48 turbines, the offshore wind farm has been operating since April 2010. It generates enough electricity to meet the power consumption needs of more than 125,000 homes.
Danish energy company Ørsted holds a stake of 50.1% in the offshore wind project.
JERA, in a statement, said: “Through its participation in the Gunfleet Sands Project, JERA will gain knowledge and experience in operation of the offshore wind power generation and leverage this to move forward with projects in Japan and abroad.
“This is JERA’s first power generation business acquired in Europe. Associated with this participation, within FY2018, JERA will newly establish an operation base in the U.K. to expand business activity in Europe.”
Marubeni joined the Gunfleet Sands Offshore Wind Farm project by signing a deal in September 2011 to acquire a stake of 49.9% from DONG Energy (now Ørsted) for £200m.
In a separate deal, JERA agreed to acquire a stake of 32.5% in the 125MW Formosa 1 offshore wind power project offshore Taiwan from Macquarie Capital and Swancor, for an undisclosed price.
Located off the north-western coast of Taiwan, the Formosa 1 project is the region’s first utility-scale offshore wind farm. Its first phase of 8MW capacity has operating for more than 18 months while an additional 120MW, which is under construction, is slated to begin operations in late 2019.
JERA stated: “The offshore wind power business is a mature industry in Europe. However, JERA recognizes that this business is still at an early stage in Asia, including Japan, having much room to develop. JERA also believes that it is able to capitalize on its strength considering its business scale and expertise in conventional power project development.”