Inside bp and JERA’s Offshore Wind Project
Global offshore wind
The new company’s portfolio of operating assets and development projects has a net potential generating capacity of 13 GW.
This includes around 1 GW of installed net generating capacity, a 7.5 GW development pipeline and an additional 4.5 GW of secured leases.
“We have a brilliant team at bp and an ambitious growth plan,” says Murray Auchincloss, CEO of bp.
“Make no mistake, we are focused on delivery and doing so at pace.”
A portfolio built for impact
JERA Nex bp’s current portfolio includes approximately 1 GW of installed net generating capacity, a 7.5 GW development pipeline and an additional 4.5 GW secured through leases.
The company is set to prioritise the disciplined and strategic development of its global pipeline while maintaining safe and efficient operations across its existing assets.
With headquarters in London and a leadership team drawn from both parent companies, JERA Nex bp hopes to tap into local markets while executing a global vision.
The joint venture will also benefit from competitive financing and access to external capital as it scales its offshore wind presence.
A vision for offshore wind
“JERA Nex bp begins life with a strong operating portfolio and an extensive development pipeline,” says Nathalie Oosterlinck, CEO of JERA Nex bp.
“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.
“This gives us the expertise and experience to find new ways to create value from offshore wind and become one of the world’s leading companies in the sector.”
William Lin, Executive Vice President for Gas & Low Carbon Energy at bp, says: “Today’s launch marks an important delivery milestone for JERA Nex bp and we are proud to be a partner in this top-tier global offshore wind developer.
“The JV allows bp to optimise and decapitalise our low carbon energy portfolio as we continue to maintain optionality for electron flows and more material value realisation through this decade and the next.
“With a disciplined, value-driven focus for development, JERA Nex bp will be an incredible vehicle to progress a global pipeline of projects.”
Driving Japan’s renewable future
With the JV completed on 1 August, a dedicated Japanese division, JERA Nex bp Japan, has also been established.
Masato Yamada, former Managing Executive Officer at JERA, has been appointed CEO of the Japan business and will report directly to the CEO.
“This is a landmark day for JERA’s renewable energy journey," explains Satoshi Yajima, Chief Renewable Energy Officer at JERA and CEO of JERA Nex.
"Our partnership with bp has accelerated the growth trajectory of JERA’s overall renewable energy strategy, and the completion of the JV formation reflects the strength and agility that will position JERA Nex bp for long-term success.
“With support from both partners, JERA Nex bp will serve as a cornerstone in helping the world realise a decarbonised energy future.”
A UK-Japan collaboration
“The collaboration between Japanese and UK companies, both with outstanding expertise, experience and capabilities, is especially meaningful,” says Mr Takehiko Matsuo, Japan’s Vice-Minister for International Affairs at the Ministry of Economy, Trade and Industry.
“As one of the world’s leading offshore wind energy companies, a key role in promoting offshore wind on the global stage is strongly expected.”
Sharon Hodgson MP, UK Trade Envoy to Japan, comments: “It's great that bp and JERA Nex have completed their UK-headquartered joint venture, making them one of the world's largest offshore wind developers and operators.
“This marks another strong example of UK-Japan collaboration, highlighting its growing role in advancing clean energy solutions.”
