LONDON, April 15 Reuters Japan39;s largest power company JERA Co. has created a global renewable energy business to be headquartered in London, as it seeks to increase lowcarbon investments to meet decarbonisation targets, the head of the new unit told Reuters.

Named JERA Nex, the unit will develop, invest in, own and operate renewable energy projects such as onshore and offshore wind, solar energy and battery storage.

Starting with a 3 GW portfolio of renewables assets, it aims to develop 20 gigawatts GW of renewables capacity by 2035 and is considering investments across the globe as well as in its home market Japan, its chief executive Nathalie Oosterlinck said.

She said the unit would focus on adding capacity through selected acquisitions and partnerships as well as developing projects alone.

JERA is a joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power Co Inc. It aims to achieve net zero carbon dioxide emissions by 2050.

Last year, it bought Parkwind, Belgium39;s largest offshore wind platform.

A consortium made up of Parkwind and IKEA store owner Ingka won the first Norwegian auction to develop a 1.5 GW offshore wind farm in the southern Norwegian North Sea last month.

In the second round of Japan39;s offshore wind tenders late last year, JERA also won rights to develop a 315megawatt wind farm as part of a consortium with Electric Power Development, Itochu, and Tohoku Electric Power.

For the longer term, Oosterlinck said…