JERA plans to invest ¥5 trillion ($32.4 billion) over the next decade in renewable energy, new fuels such as hydrogen and ammonia, and liquefied natural gas (LNG), global CEO Yukio Kani told reporters on Thursday.
By fiscal year 2035, JERA targets more than 35 million tons of annual LNG transaction volumes, 20 gigawatts of renewable energy capacity and 7 million tons of hydrogen and ammonia processing volume, the company said in a separate statement.
Each of the areas would receive ¥1 trillion to ¥2 trillion in investments over the next decade, Japan’s largest energy producer said.
Consolidated net profit of JERA, also Japan’s largest LNG buyer, should reach ¥350 billion, with earnings before interest, taxes, depreciation and amortization (EBITDA) of ¥700 billion, the report said.
JERA, a privately held company co-owned by Tokyo Electric Power and Chubu Electric Power, expects profit for the year ending March next year to reach ¥200 billion and EBITDA, both excluding fuel cost adjustments, to reach ¥500 billion .
JERA plans to phase out inefficient coal-fired thermal power by fiscal year 2030 and convert all other coal-fired electricity generation to ammonia by 2040 to completely eliminate coal, the statement said.
