JERA and bp have officially completed the formation of their 50:50 joint venture, JERA Nex bp, establishing a global offshore wind developer, owner, and operator with a net generating capacity of 13 gigawatts (GW). This includes 1GW of operational capacity, a 7.5GW development pipeline, and 4.5GW of secured leases.
The new company, headquartered in London, will initially focus on advancing projects from its existing global pipeline while continuing to operate assets in Europe and Asia. JERA Nex bp will also evaluate and prioritise its portfolio based on value, with plans to access external capital and competitive financing to support its growth strategy.
JERA Nex bp is led by CEO Nathalie Oosterlinck, with a senior management team drawn from both partners. A separate subsidiary, JERA Nex bp Japan, has also been established to oversee operations in Japan, led by Masato Yamada, former Managing Executive Officer of JERA.
“This marks a significant milestone for our renewable energy journey,” said Satoshi Yajima, JERA’s Chief Renewable Energy Officer and CEO of JERA Nex. “Our partnership with bp has accelerated the trajectory of JERA’s clean energy strategy, and this JV positions us for long-term success.”
bp’s Executive Vice President for Gas & Low Carbon Energy, William Lin, added that the joint venture offers a platform for value-driven development and aligns with bp’s strategy to optimise its low-carbon portfolio.
The joint venture combines JERA’s track record in project delivery and operations with bp’s experience in offshore energy, aiming to become a leading player in the global offshore wind sector.
Japanese Vice-Minister for International Affairs, Takehiko Matsuo, and UK Trade Envoy to Japan, Sharon Hodgson MP, welcomed the UK-headquartered joint venture as a model of international cooperation in clean energy development.
