Japan’s JERA slates $32 billion for LNG, renewables, new fuels

Japan

TOKYO, May 16, 2024 – Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels including hydrogen and ammonia over the next decade.

By 2030, the company targets more than 35 million tonnes per year of LNG transaction volumes, positioning itself as one of the world’s largest LNG integrated value chain players.

It also targets 20 GW of generation capacity from renewables by that year, as well as 7 million tonnes per year of handling volumes of hydrogen and ammonia.

Last month, JERA announced the creation of a London-headquartered renewables company set to be active globally, the Japanese power generation player said on Monday.

JERA Nex will develop, invest in, own and operate a range of renewable energy assets, including offshore and onshore wind, solar and battery storage.

The new company will capitalise on JERA’s large-scale electricity generation capability and contribute to the decarbonisation needed to meet its goal of reaching net zero by 2050.

Photo of the Oak Spirit LNG vessel courtesy of JERA.