The European Commission has cleared the proposed creation of a joint venture between Japan’s JERA and BP, allowing the two companies to merge their offshore wind operations under a new entity, JERA Nex BP.
The 50:50 venture, announced in December 2024, will combine a mix of operating assets and development-stage projects with a potential net generation capacity of 13 gigawatts (GW), according to both companies. The move is aimed at advancing the development of the combined offshore wind pipeline and improving access to competitive financing.
“This joint venture enables us to accelerate development and strengthen our position in offshore wind,” the companies said in a joint statement at the time of the agreement.
The European Commission reviewed the transaction under its simplified merger procedure and concluded that it would not raise competition concerns, citing the companies’ limited combined market share in the offshore wind sector.
The decision marks a regulatory milestone for the partnership as it positions itself to contribute to Europe’s renewable energy transition.
