JERA Cross to accelerate the energy transformation of companies

JERA announces the launch of JERA Cross, a new company dedicated to the green energy transformation of companies, in partnership with McKinsey & Company.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

JERA Co, Inc, announces the creation of JERA Cross, a new company aimed at combining its energy, digital and business transformation capabilities to accelerate companies’ “green transformation”. JERA Cross will begin full-scale operations on June 1, 2024, with strategic support from McKinsey & Company, which will provide decarbonization solutions to promote green business transformation. This initiative is in line with JERA’s mission to provide cutting-edge solutions to the world’s energy challenges. As global society increasingly turns towards decarbonization, Japan is no exception to the need to transition to a clean energy society. JERA Cross will use JERA’s skills in renewable energy supply and demand management, sales and digital technology to offer complete decarbonization solutions, from management to execution.

Integrated solutions for a sustainable transition

JERA Cross plans to provide end-to-end support to companies, from the conception of customers’ future green transformation visions to the implementation of the strategies needed to realize them. Junya Tawa, Chief Strategy Officer (CSO) at JERA, said, “Green transformation encompasses both the technological challenge of decarbonizing the energy consumed and the strategic challenge of integrating decarbonization into corporate strategy. We hope that JERA Cross will be a partner accompanying its customers on their green transformation journey.”

McKinsey’s strategic role

Naoyuki Iwatani, Managing Partner of McKinsey Japan, stressed the urgent need for companies to take immediate action to accelerate the energy transition. “McKinsey, by supporting transformations and companies like JERA and JERA Cross that take on the challenge of climate change, will help achieve sustainable and inclusive growth at both corporate and national levels.”

A vision for a low-carbon future

By combining its capabilities in energy, digital and business transformation, JERA Cross aims to become a player in achieving the decarbonization of society. The new entity will develop decarbonization solutions in collaboration with its customers to enhance their corporate value and contribute to the reduction of CO2 emissions. This includes the supply of stable renewable electricity 24 hours a day, 365 days a year, with zero CO2 emissions.

Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.
North Atlantic and ExxonMobil have signed an agreement for the sale of ExxonMobil’s stake in Esso S.A.F., a transaction subject to regulatory approvals and financing agreements to be finalised by the end of 2025.
The Canadian pension fund takes a strategic minority stake in AlphaGen, a 11 GW U.S. power portfolio, to address rising electricity demand from data centres and artificial intelligence.
Minnesota’s public regulator has approved the $6.2bn acquisition of energy group Allete by BlackRock and the Canada Pension Plan, following adjustments aimed at addressing rate concerns.
The Swiss chemical group faces two new lawsuits filed in Germany, bringing the total compensation claims from oil and chemical companies to over €3.5bn ($3.7bn) in the ethylene collusion case.
Statkraft continues its strategic shift by selling its district heating unit to Patrizia SE and Nordic Infrastructure AG for NOK3.6bn ($331mn). The deal will free up capital for hydropower, wind, solar and battery investments.
Petronas Gas restructures its operations by transferring regulated and non-regulated segments into separate subsidiaries, following government approval to improve transparency and optimise the group’s investment management.
Marubeni Corporation has formed a power trading unit in joint venture with UK-based SmartestEnergy, targeting expansion in Japan’s fast-changing deregulated market.
Exxon Mobil plans to reduce its Singapore workforce by 10% to 15% by 2027 and relocate its offices to the Jurong industrial site, as part of a strategic investment shift.
Phoenix Energy raised $54.08mn through a preferred stock offering now listed as PHXE.P on NYSE American, with an initial dividend scheduled for mid-October.
TotalEnergies plans to increase its energy production by 4% annually until 2030, while reducing global investments by $7.5bn amid what it describes as an uncertain economic environment.
Occidental Petroleum is considering selling its chemical subsidiary OxyChem for $10bn, a transaction that forms part of its deleveraging strategy launched after several major acquisitions.
ABO Energy is assessing a shift to independent power production by operating its own renewable parks, signalling a major strategic move in a market that has become more favourable.
Fortescue accelerates the decarbonisation of its operations by leveraging an international network of technology and industrial partners, targeting net zero at its mining sites by 2030.
Mexican state-owned company Pemex confirmed the partial acceptance of bond securities under its debt repurchase offer, with a total allocation of $9.9bn, following strong oversubscription.
Swiss energy company MET strengthens its footprint in Central and Southeast Europe with the full acquisition of MET Slovakia and the launch of a new operational subsidiary in Albania.
UK-based Gresham House will acquire Swiss investment manager SUSI Partners, strengthening its international footprint in energy transition infrastructure.
Spruce Power launches an internal reorganisation aimed at reducing annual operating costs by $20mn, with the closure of its Denver office and a refocus on key initiatives to strengthen profitability.
TotalEnergies’ Board of Directors is adjusting its shareholder return strategy while consolidating its multi-energy growth and employee shareholding plan amid an uncertain energy and geopolitical landscape.
Fermi America has signed two letters of intent with Siemens Energy to supply an additional 1.1 GW of gas turbines and collaborate on nuclear steam turbines as part of its 11 GW private energy campus dedicated to artificial intelligence.