Japan-based power generator JERA plans to spend 160 billion yen (USD1.4 billion) to develop one GW of solar power farms in Japan over the next five years.
Under the collaboration, JERA will ask West Holdings to build solar power farms at about 7,000 sites, including former JERA power plant sites, and will sell the electricity to corporate customers seeking clean energy. JERA plans to buy a minority stake in West Holdings later this year. JERA’s move is in line with the plan to expand its renewable energy capacity to 5 GW by 2025 from about 1.5 GW now to help combat climate change and achieve net zero emissions of carbon dioxide by 2050.