JERA and bp Launch Offshore Wind JV 'JERA Nex bp' with 13 GW Global Portfolio

Japanese energy major JERA and British oil and gas giant bp have officially launched their 50:50 offshore wind joint venture, JERA Nex bp. The newly formed company will operate as a global offshore wind developer, owner, and operator with a net potential generating capacity of 13 GW. This includes 1 GW of installed capacity, a 7.5 GW development pipeline, and 4.5 GW of secured leases.

Strategic Global Focus

Headquartered in London, JERA Nex bp will initially prioritise the disciplined development of existing projects across Europe and Asia while continuing operations of its current offshore wind assets. The company also plans to optimise its portfolio based on value and scale operations through access to external capital and competitive financing structures.

“JERA Nex bp begins life with a strong operating portfolio and an extensive development pipeline,” said Nathalie Oosterlinck, CEO of JERA Nex bp. “By combining the global capabilities of JERA and bp, we are uniquely positioned to unlock new value from offshore wind and become a leader in the sector.”

Complementary Strengths and Global Vision

The joint venture merges JERA’s project delivery and operations expertise with bp’s offshore energy experience, enabling them to pool technical, engineering, and procurement capabilities, the official statement said.

William Lin, Executive Vice President for Gas & Low Carbon Energy at bp, said the JV represents a strategic step to scale bp’s low-carbon portfolio. “With JERA Nex bp, we can optimise our offshore wind investments and advance a global pipeline of projects while maintaining optionality for future energy flows,” he noted.

Satoshi Yajima, Chief Renewable Energy Officer of JERA and CEO of JERA Nex, called the formation of JERA Nex bp “a landmark day” in JERA’s renewable energy journey. “This venture reflects our shared commitment to building a decarbonised energy future,” he said.

Expansion in Japan and Strong International Backing

As part of the agreement, JERA Nex bp Japan has also been launched to focus specifically on the Japanese offshore wind market. Masato Yamada, former Managing Executive Officer of JERA, has been appointed CEO of the Japan unit, reporting to Oosterlinck.

The JV has received strong support from both Japanese and UK government representatives.

Takehiko Matsuo, Japan’s Vice-Minister for International Affairs at METI, said: “This collaboration between two globally recognised energy players is especially meaningful and expected to play a leading role in offshore wind promotion worldwide.”