Japan's JERA Eyes Stake in Taiwan's Formosa 3 Offshore Wind Project

Japanese power generator JERA has announced that it is in talks with Macquarie Capital to buy nearby to a half stake in Taiwan's Formosa 3 offshore wind project, its president Satoshi Onoda said.

An initial public offer is an option to raise funds for the joint venture between Tokyo Electric Power Company Holdings and Chubu Electric Power Co, but the focus is currently on achieving profit targets, Hisahide Okuda, JERA's managing executive officer, told.

The world's biggest buyer of liquefied national gas (LNG) conveyed net profit of 137.8 billion yen ($1.26 billion) for the period from April to September, backed by strong earnings from its LNG trading operation, Okuda said.