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JERA & Virya reach agreement for Parkwind offshore wind platform

4C Offshore | Chloe Emanuel
By: Chloe Emanuel 22/03/2023 Jera

JERA Co. Inc. (JERA) signed an agreement with Virya Energy NV (Virya) to acquire 100% in shares of Parkwind NV (Parkwind) Viryas offshore wind platform, with an equity value of close to €1.55 billion. Closing of the transaction is expected later this year and is subject to conditions including approval by the relevant competition and other authorities.

The two companies will explore the possibility for Virya to re-invest in a minority stake in Parkwind’s Belgian wind farms and discuss collaboration on future opportunities in Belgium. Parkwind aims to provide JERA with a platform to grow its renewables business globally, particularly in offshore wind. Together with JERA, the combined synergy should accelerate Parkwind’s offshore wind business into markets where JERA has a presence or is already well-positioned in order to participate in development.

Following completion of the transaction, JERA is committed to funding the long-term growth of Parkwind and to support its expansion plan. JERA will bring complementary capabilities and financial support to help the company blossom, in a world where offshore wind continues to play an important role in facilitating the global energy decarbonisation.

Parkwind became the largest offshore wind platform in Belgium, currently operating 4 offshore wind projects in Belgium totalling 771 MW, now constructing the 257 MW Arcardis Ost project in Germany, plus developing a 4.5 GW net pipeline of projects in Europe and surrounding areas. Parkwind are also developing the Oriel Windfarm, which when operational in (estimated) 2026, will be Ireland’s first fully operational offshore wind farm. The project will be Parkwind’s largest by 375 MW in capacity estimated to power approximately 300,000 households.

For more information on offshore wind farms worldwide, click here.


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