bp and JERA Co., Inc. have established a joint venture, JERA Nex bp, to create a leading global offshore wind developer with a total potential generating capacity of 13GW.

Target Information

bp and JERA Co., Inc. have joined forces to merge their offshore wind operations into a new, equally-owned joint venture named JERA Nex bp. This partnership aims to create one of the largest offshore wind developers globally, boasting a balanced mix of existing operational assets and development projects that collectively hold a potential net generating capacity of 13 gigawatts (GW).

The merger combines approximately 1 GW of operational assets and a robust pipeline of development projects totaling around 7.5 GW, alongside several secured leases representing an additional 4.5 GW of potential capacity. The combined entity will strategically focus on the advancement of existing offshore wind projects primarily located in North-West Europe, Japan, and Australia, while continuing to explore significant long-term opportunities in the sector.

Industry Overview

The offshore wind industry has emerged as a critical component of the global energy transition, particularly in countries like the UK and Japan, which are heavily investing in renewable energy sourc