NTT, Jera to Acquire Japan Wind Power Developer Green Power (4)

Japan’s top power producer, Jera Co., and a unit of telecommunication company Nippon Telegraph & Telephone Corp. will jointly acquire renewable energy company Green Power Investment Corp.

NTT Anode Energy Corp. will take 80% of GPI while Jera will own the remainder, said Koji Ito, an executive at NTT Anode Energy, in a press conference. Ito declined to disclose the exact figure of the deal, but said it is around ¥300 billion ($2.2 billion).

The move is the latest example of Japanese firms targeting renewable energy companies amid a push to decarbonize. Oil refiner Eneos Holdings bought a ...