Jera and Virya Energy have a contract in place for Jera to purchase all of the stock in Parkwind.
The acquisition, which will conclude for roughly €1.55 billion in stock, is anticipated to close later this year, subject to the usual requirements of receiving clearance from the necessary competition and other regulatory authorities.
In addition, Jera and Virya will talk about cooperation on potential future opportunities in Belgium as well as the option for Virya to re-invest in a minority position in Parkwind’s Belgian wind farms.
Jera will have a substantial foundation to expand its renewables business globally, particularly in offshore wind, thanks to Parkwind, an established European offshore wind developer, owner, and operator with its headquarters in Belgium, the company said.
As part of the global decarbonization initiatives and low-carbon fuel production business growth, Parkwind’s offshore wind business will expand into markets where the Japanese developer has a presence or is already well-positioned to participate in offshore wind development thanks to its combined synergy with Jera.
Jera continued, this provides an exciting opportunity for Parkwind and its staff to become an increasingly more significant role in the globally developing offshore wind business.
Parkwind is currently building the 257MW Arcardis Ost project in Germany, operating 4 offshore wind projects in Belgium with a combined capacity of 771MW, and creating a 4.5GW (net) pipeline of projects throughout Europe and beyond.
Executive officer and global head of offshore wind at Jera, Nathalie Oosterlinck, said “I am very happy to make this announcement today.”
“Parkwind is a highly attractive investment opportunity and we have been impressed by the Company’s strong in-house project development, project delivery and operational capabilities, management track-record over the years as well as the quality of its asset portfolio, development pipeline and joint venture partners.”
“For Jera, the transaction is as much about people as it is about projects and pipeline, all of which Parkwind bring in a material and meaningful way.”
“Parkwind is highly complementary with Jera’s offshore wind strategy and ambitions, and we look to empower Parkwind to deliver on our vision and strategy.”
“Jera has the ambition to significantly advance the expansion of renewable and low carbon energy on a global scale.”
“There is a strong strategic, cultural, and industrial fit and complementarity between Jera and Parkwind.”
“We look forward to welcoming Parkwind to Jera and creating a world class global team.”
Paul Tummersm, Virya Energy chief executive, added “I am very enthusiastic about our announcement today.”
“As we communicated last summer, Virya had initiated an assessment of possible strategic development options for our offshore wind energy activities, operated through our subsidiary Parkwind, to ensure that it would have the best possible conditions to execute its ambitious growth plan in a rapidly changing industry.”
“After conducting a competitive sale process over several months, Virya has signed an agreement with the candidate we believe is the best positioned to provide an exciting new home for the business, its partners, and employees.”
“Parkwind, a leading independent offshore wind platform that has successfully grown over the last 12 years, has a very promising development potential and is supported by highly skilled and capable people.”
“Virya believes Jera will provide Parkwind with the best assets, expertise, and support to ensure the pursuit of its successfully initiated international journey towards a decarbonated future, reinforcing its long-term global potential out of its strong Belgian base.”
“This announcement is a strong milestone in the execution of Virya Energy’s strategy.”
“This contemplated transaction, while being fundamentally triggered by the best interest of Parkwind, will also allow Virya together with its shareholders to increase its focus inn ‘fit for purpose energy’ through investments in onshore wind energy, solar energy and green hydrogen.”
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