May 18 (Renewables Now) - Japanese utility Jera Co Inc and compatriot NTT Anode Energy Corp said on Thursday they have struck a deal with US developer Pattern Energy Group LP to acquire a 2-GW renewables portfolio in Japan, including offshore wind assets.
Specifically, Pattern has agreed to sell Green Power Investment Corp (GPI) and other renewable energy businesses it owns in Japan for an undisclosed sum. The transaction is expected to be finalised by the end of 2023.
GPI is engaged in the development, construction and management of renewable energy facilities in Japan. The company, which is majority owned by Pattern, has so far completed projects such as the 122-MW Tsugaru and 113-MW Sumita Tono wind farms and is currently building the 112-MW Ishikari Bay New Port offshore wind farm in Hokkaido.
In a separate statement, Pattern said it is selling 100% of its interest in GPI plus its directly owned Japanese assets -- the Tsugaru and Sumita Tono wind parks as well as the 80-MW Fukaura wind farm.
The table below gives more information about the capacity of the assets being acquired by Jera and NTT, including those attributed to other companies.
|Source ||Operation ||Construction ||Under development |
|Solar ||56 MW ||--- ||--- |
|Onshore wind ||281 MW ||80 MW ||About 1,500 MW |
|Offshore wind ||--- ||112 MW ||(Before public auction) |
"As the Japanese market continues to evolve, we saw the need for more of a local force, with deep connections, to partner with GPI and drive the business forward. The timing was right for all parties to make this happen," commented Hunter Armistead, CEO of Pattern Energy.