Japanese energy firm JERA and UK-based BP have completed the formation of JERA Nex BP, a 50:50 offshore wind joint venture with a net portfolio of 13 gigawatts (GW) of potential capacity, the companies announced on Monday.
The newly established company combines 1GW of operational assets — including the 257-megawatt Arcadis Ost 1 wind farm in Germany — with 7.5GW of projects in development and 4.5GW secured through lease agreements.
Headquartered in London, JERA Nex BP will also operate a dedicated Japanese unit, JERA Nex BP Japan, under the leadership of Masato Yamada.
The joint venture aims to focus initially on delivering projects from its current pipeline in Europe and Asia, while continuing to operate existing assets and refine its portfolio strategy. According to the partners, the company will leverage both firms’ technical, engineering and procurement capabilities to support project execution and financing.
“We bring together two highly capable teams with the experience, relationships, purchasing power and unique global access of two of the East and West’s pre-eminent energy companies,” said Nathalie Oosterlinck, JERA Nex BP’s chief executive.
BP’s executive vice president for gas and low carbon energy, William Lin, noted that the venture would enhance the British company’s ability to expand its renewable energy footprint. “It allows us to progress a global pipeline of projects while continuing to optimise our low-carbon portfolio,” Lin said.
JERA’s chief renewable energy officer, Satoshi Yajima, described the joint venture’s launch as “a landmark day” for the company’s renewable strategy.
The partners said JERA Nex BP would prioritise “disciplined” development of existing projects and would seek to attract third-party capital and competitive financing.
UK trade envoy to Japan Sharon Hodgson welcomed the initiative, saying it “highlights [the UK’s] growing role in advancing clean energy solutions.”
The move comes as energy majors expand their offshore wind capabilities amid accelerating global demand for low-carbon power generation.
