JERA, Japan’s leading power utility firm, unveiled its plans to invest 5 trillion yen in renewable energy and new fuels like hydrogen and ammonia. The company plans to handle these fuels in volumes of 7 million tons.
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The firm also revealed its plans to invest in liquefied natural gas (LNG). It has set its target to exceed 35 million metric tons in LNG transaction volumes annually by the fiscal year 2035. It has its eyes set on accelerating the capacity of renewable energy from 5 gigawatts to 20 gigawatts.
JERA aims to ensure a stable supply of LNG for Japan and other parts of Asia and address fluctuations in demand for the fuel. It plans to execute this while maintaining its market share. Apart from the heavy investment in renewable energy sources and alternative fuels, the power utility firm also has decarbonisation plans in mind. As of now, the company has set sights on remitting at least 60% of its carbon emissions with 2013 as the baseline level. The firm released all its plans in a press release outlining its strategy to decarbonise as a responsible energy solutions provider.