Jera, West HD finalise 1GW Japanese solar deal

• Projects to be established over 4 years at new sites as well as former nuclear power plant

Jera and West Holdings Corporation (West HD) have actually finalised an alliance to establish 1GW of solar power projects in Japan.

Under the agreement, both firms will create solar energy projects for JERA at new sites and also at former Jera nuclear power plant sites in Japan.

They have an overall growth target of at least 1GW over four years with throughout of FY2025.

If projects are developed at the scale stipulated in the agreement, Jera will turn into one of Japan's biggest solar energy generation producers.

Both companies will develop, construct, and operate solar power generation projects with the understanding as well as teamwork of local neighborhoods based on consideration for the setting.

Jera has actually also ended a share purchase arrangement with a shareholder of West HD to acquire approximately 2.3% of the business's outstanding shares.

Solar power generation, with its well-known modern technology and also reasonably short building and construction duration, is an encouraging near-term option for raising the installed capacity of renewable energy in Japan, Jera said.

Both firms likewise consented to think about the sale by West HD to Jera of electricity generated by solar power generation centers possessed and also operated by West HD, and to discover joint solar energy generation business opportunities for third parties in Japan as well as overseas.