JERA Nex BP will withdraw from the New Zealand offshore wind sector and cease its activities in the country by the end of 2025, the developer said, marking another exit by an international player from the emerging market.
“JERA Nex bp is not proceeding with development of offshore wind in New Zealand and will stop our activities in the country at the end of 2025,” the company said in a statement.
The joint venture had been developing plans for an offshore wind farm off the coast of South Taranaki. A spokesperson said the company had engaged extensively with local communities and partners during its time in the country.
“We’d like to thank iwi for their commitment to working with us, our local partner Meridian Energy, successive governments as well as many different local and national stakeholders for the positive working relationships in Aotearoa,” the spokesperson said.
Industry body the New Zealand Wind Energy Association said the decision was disappointing but cautioned against interpreting it as a judgment on the country’s offshore wind prospects.
“The decision to cease its activities at the end of 2025 is disappointing, but it is not a reflection of our abundant offshore wind resource or its long-term commercial potential,” the association said.
It added that the move followed a series of recent withdrawals by international developers. “This decision — following the recent exits of other international offshore wind developers — highlights the complex challenges facing offshore wind development, both here and internationally,” the association said.
