Japan’s Energy for a New Era (JERA), a joint venture between TEPCO and Chubu Electric Power, has completed the acquisition of Belgian renewable energy company Parkwind.

Parkwind has been acquired from Virya Energy, a company engaged in the development, financing, construction and operation of sustainable energy sources.

JERA and Virya Energy signed an initial agreement in March this year and the transaction was completed after securing approval from the competition and other regulatory authorities.

The acquisition is in line with its long-term strategy to scale up its clean energy platform of renewables and low greenhouse gas thermal power, said the Japanese energy company.

JERA global renewable energy division head and managing executive officer Nathalie Oosterlinck said: “This marks a significant milestone in JERA’s journey to achieve our mission to provide cutting-edge solutions to the world’s energy issues.

“We are excited to welcome the talented team of Parkwind to the JERA family. Their strong track record and excellent in-house development and team capabilities will help us to grow our ambitions of scaling up our renewable capabilities globally.

“Together, we can leverage great talent, shared values and business culture.  Parkwind fuels JERAs growth ambitions of scaling up our position as a global leader in the renewable energy sector.”

Parkwind is engaged in developing, financing, and operating offshore wind farms, with more than a decade of experience and 771MW under operational management in Belgium.

The company is currently expanding worldwide, with an active development pipeline of 4.5GW across several European countries, and other markets.

JERA said that the acquisition of Parkwind will add more offshore projects to its existing portfolio of offshore wind projects in Taiwan and the UK.

The Japanese energy company is enabled to enhance its renewables capacity and potential to further diversify the existing renewable energy offerings.

Parkwind and its more than 130 employees will become important players in the rapidly expanding offshore wind industry on a global scale, said JERA.

Parkwind co-CEO François Van Leeuw and Eric Antoons said: “We are thrilled to welcome JERA as our new shareholder. With JERA’s worldwide expertise, resources and pipeline, we are confident that Parkwind’s portfolio will further expand across borders.

“This partnership represents a significant milestone for our company and aligns perfectly with our long-term vision of creating a sustainable future powered by renewable energy.

“With the combined expertise and resources from both JERA and Parkwind, we are confident in our ability to accelerate our growth, expand our portfolio, and contribute even more to the global clean energy transition.”