Japan’s JERA targets over 35 million metric tons LNG transaction volumes, generating 20 GW of renewable energy by 2035.
May 20, 2024
In order to achieve energy sustainability, affordability and stability, leading Japanese energy company JERA has come up with a three-pronged growth strategy to invest USD 32 billion in clean energy fuels such as LNG, renewables and new fuels, including hydrogen & ammonia, over the next decade.
It said the plan aligned well with its 2035 targets of reaching more than 35 million tonnes of LNG transaction volume, generating 20 GW capacity of renewable energy, and achieving around 7 million tonnes of handling volume of hydrogen and ammonia.
JERA said that out of the total cash flow investment of around USD 32 billion, it will invest anything between USD 6-12 billion which would be split into the three business pillars of LNG, renewables, and hydrogen & ammonia by 2035, with a built-in flexibility to make allocation changes between the three areas, if deemed suitable, in case of external changes.
The unique integration of JERA’s strategic business pillars with robust organizational support sets the company apart as a global leader in the energy sector, unmatched in its capability to deliver energy transition goals together with its partners worldwide.
Mr. Yukio Kani, Global CEO and Chairman,JERA, said, “At JERA, we are not just adapting to the evolving global energy landscape; we are actively setting the pace. With our new growth strategy, we are positioning ourselves at the forefront of the energy transition. Our vision will be made possible through strategic collaborations with our global partners. Built on mutual goals and a culture of diversity and openness, we and our partners will join forces to embark on a journey to transform the energy sector.”
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The Tokyo-based power utility claimed that the new strategy would ensure agility and efficiency, while progressing towards its aim to create zero emissions in thermal power generation.
JERA further announced plans to reduce its carbon footprints, targeting 20 percent reduction in CO2 emissions by 2030, 60 percent reduction by FY2035, and zero CO2 emissions from its domestic and overseas operations by 2050.
