US-headquartered Pattern Energy has concluded an agreement with JERA and NTT Anode Energy Corporation for the joint acquisition of its renewables business in Japan.
The acquisition of wind developer Green Power Investment Corporation (GPI) is expected to complete by the end of 2023.
GPI develops, constructs and manages renewable energy plants including onshore and offshore wind farms, in Japan and has been in operation since 2004.
The company owns and operates six renewable energy assets totalling 337MW and has two projects under construction totalling 192MW.
In 2020, GPI completed the 122MW Wind Farm Tsugaru, the then largest onshore wind power plant in Japan.
Earlier this month the company started commercial operations of the 113MW Sumita Tono Wind Farm and is now constructing in the 112MW Ishikari Bay New Port offshore wind farm off Hokkaido.
NTT Anode Energy and JERA will “respect and retain” the mission that GPI has fostered over years about the renewable energy industry.
The companies will cooperate with each other to further enhance the corporate value of GPI using resources of NTT Anode Energy particularly for onshore wind and of JERA for the offshore wind power generation.
Yukio Kani, Representative Director, Chairman and Global CEO of JERA, said: “Through GPI, we together with NTT Anode Energy will expand renewable energy businesses in Japan.
“Also, we will create synergies in offshore wind power businesses as part of our global strategy.
“Furthermore, we expect to strengthen our relationship with NTT group in the future.”
Mitsuru Sakaki, Representative Board Member and President, GPI, added: “We look forward to our new partnership with NTT Anode and JERA and are excited about the potential for continued growth and expansion of our business.”