JERA and bp launch offshore wind joint venture

JERA Nex bp (a 50:50 JV between JERA and bp) has been formed and the transaction completed on August 1, 2025.

• Main announcement: The 50:50 joint venture JERA Nex bp has been launched by JERA and bp with headquarters in London, a net potential generating capacity of 13GW (including ~1GW installed, a 7.5GW development pipeline and 4.5GW secured leases). The JV will develop, own and operate offshore wind projects globally and will leverage external capital and competitive financing. JERA Nex bp Japan has been established to focus on Japan, with Masato Yamada appointed CEO; the transaction completion date was August 1, 2025.
• Background and details: The JV combines JERA’s operational and delivery expertise with bp’s offshore energy experience, is headquartered in London, has offices across Europe, Asia, US and Australasia, and will prioritize disciplined, value-driven development from its existing pipeline. Press contacts and media relations for JERA Nex, Kekst CNC advisers (Lindsay Jepp and Matthew Burton), JERA press relations (Tokyo) and bp press office are provided in the release.