General – Acquisition
NTT Anode Energy Corporation and JERA have concluded an agreement with Pattern Energy Group for the joint acquisition of Green Power Investment Corporation.
The deal, which also includes other renewable energy businesses in Japan that are currently owned by Pattern Energy, is expected to complete by the end of 2023.
GPI is a leading renewable energy power generation company, dedicated to the development, construction and management of renewable energy facilities in Japan. Since its foundation in 2004 the company has developed one of the largest onshore and offshore wind platforms by combined capacity in Japan.
GPI currently owns and operates six renewable energy projects totalling 337 MW and has two projects under construction totalling 192 MW. In 2020, GPI completed the 122-MW Tsugaru windfarm, then the largest onshore wind power plant in Japan. On 11 May 2023, GPI started commercial operation of the 113-MW Sumita Tono windfarm. Having been engaged in offshore wind generation since 2007, GPI is now constructing in the 112-MW Ishikari Bay New Port windfarm offshore Hokkaido.
The companies said the deal will enhance the value of GPI, utilizing NTT Anode Energy’s resources in onshore wind and those of JERA in the offshore wind market.
JERA executive officer offshore wind Nathalie Oosterlinck said: “JERA’s ambition is to significantly advance the expansion of renewable and low-carbon energy on a global scale. Japan is one of the most important markets for us. GPI is a leading renewable energy company that has been developing, constructing, and operating renewable energy projects in Japan since its foundation. We are confident that our experience in offshore wind and renewables will be highly complementary to the partnership and the transaction will further accelerate JERA’s ambition to decarbonize.”