By fiscal year 2035, JERA is targeting over 35 million tons in annual LNG transaction volumes, 20 gigawatts of renewable energy capacity and 7 million tons of handling volume of hydrogen and ammonia, the company said in a separate statement.
Each of the areas would receive 1-2 trillion yen in investment over the decade, Japan's top power generator said.
Consolidated net profit of JERA, also Japan's top LNG buyer, should reach 350 billion yen with earnings before interest, taxes, depreciation and amortization (EBITDA) at 700 billion yen, it said.
JERA, an unlisted company co-owned by Tokyo Electric Power (9501.T), opens new tab and Chubu Electric Power (9502.T), opens new tab, sees its profit for the year ending next March at 200 billion yen and EBITDA, both excluding fuel cost adjustment, at 500 billion yen.
JERA plans to phase out inefficient coal-fired thermal power by fiscal year 2030 and to convert all other coal-fired power generation to ammonia by the 2040s to eliminate coal completely, the statement said.
