japanese energy company JERA has concluded its purchase of Parkwind from Virya Energy for €1.55bn (11.09bn yuan), after receiving the green light from competition and regulatory agencies.

JERA considers the transaction a significant milestone and believes it can help the company become a key player in the offshore wind space.

Parkwind is one of Belgium’s largest offshore wind developers, with a total capacity of 1.02GW.

It operates four offshore wind farms totalling 771MW, and recently acquired the 257MW Arcadis Ost 1, a German offshore wind farm in the Baltic Sea.

The company has a pipeline of more than 4.5GW. With financial support and complementary capabilities from JERA, Parkwind will continue to strengthen its presence in the global offshore wind industry.

According to JERA, the acquisition will complement its current portfolio of offshore wind projects in Taiwan and the UK. It can now increase its renewables potential while further diversifying its existing portfolio.

The acquisition also aligns with its long-term vision of scaling up its energy platform with renewables and low greenhouse gas thermal power.

JERA managing executive officer and global renewable energy division head Nathalie Oosterlinck stated: “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 JERA’s growth ambitions of scaling up our position as a global leader in the renewable energy sector.”