November 14, 2019 / 5:37 AM / 24 days ago

Japan's JERA in talks on Taiwan's Formosa 3 offshore wind project

TOKYO (Reuters) - Japanese power generator JERA is in talks with Macquarie Capital to buy close to a half stake in Taiwan’s Formosa 3 offshore wind project, its president Satoshi Onoda said on Thursday.

An initial public offer is an option to raise funds for the joint venture between Tokyo Electric Power Company Holdings (9501.T) and Chubu Electric Power Co (9502.T), but the focus is currently on achieving profit targets, Hisahide Okuda, JERA’s managing executive officer, told a news conference.

The world’s biggest buyer of liquefied national gas (LNG) reported 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.

Reporting by Yuka Obayashi

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