JERA has entered into a definitive agreement with Virya Energy to acquire Parkwind for an equity value of close to €1.55 billion. In addition, JERA and Virya will explore the possibility for Virya to re-invest in a minority stake in Parkwind’s Belgian wind farms and discuss collaboration on future opportunities within Belgium.
Parkwind, headquartered in Belgium, will provide JERA with a platform upon which it will grow its renewables business globally, particularly in offshore wind. Together with JERA, the combined synergy will accelerate Parkwind’s offshore wind business into markets where JERA has a presence or is already well-positioned to participate in offshore wind developments.
Under Virya’s ownership, Parkwind became the largest offshore wind platform in Belgium. and currently operates 4 offshore wind projects in Belgium totalling 771MW, is constructing the 257MW Arcardis Ost project in Germany and is developing a 4.5GW (net) pipeline of projects in Europe and beyond.
Closing of the transaction is expected later this year and is subject to customary conditions relating to approval by the relevant competition and other regulatory authorities.