JERA Nex bp
Assembly Line
💨 bp and JERA joining forces to create top-tier global offshore wind joint venture
bp and JERA Co., Inc. have agreed to combine their offshore wind businesses to form a new standalone, equally-owned joint venture that will become one of the largest global offshore wind developers, owners and operators.
The combination will create a global business, to be called JERA Nex bp, with a balanced mix of operating assets and development projects with total 13GW potential net generating capacity. Formation of JERA Nex bp is intended to accelerate development from the combined pipeline and bolster access to competitive financing. Supporting this, the partners have agreed to provide capital funding for investments committed to before end of 2030 of up to $5.8 billion.
The companies will contribute interests comprising operating assets with around 1GW net generating capacity, a strong pipeline of high-quality development projects with around 7.5GW capacity, and further secured leases with around 4.5GW of potential capacity. JERA Nex bp will pursue value-driven development of competitive projects, as well as optimising its extensive combined portfolio. Initially it is expected to focus on progressing existing projects in North-West Europe, Australia and Japan, and to continue to mature the development pipeline of significant longer-term opportunities.