JERA and BP Launch Global Offshore Wind Powerhouse with 13GW Portfolio

Industry Insights from Next Move Strategy Consulting 

As the renewable energy sector accelerates toward unprecedented scale, the completion of JERA Nex bp marks a pivotal moment in offshore wind development. The new London-headquartered joint venture between Japanese energy giant JERA and British petroleum major BP emerges as one of the world's largest offshore wind developers, combining substantial operational capacity with an expansive development pipeline across three continents.

Strategic Alliance Transforms Offshore Wind Landscape

The formation of JERA Nex bp represents more than a corporate merger—it signals a fundamental shift in how global energy leaders approach renewable infrastructure development. This 50:50 partnership unites complementary strengths, with JERA's proven track record in project delivery and safe operations merging seamlessly with BP's extensive offshore energy expertise.

"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".

Commanding Portfolio Across Global Markets

Key Portfolio Components:

• 13GW Total Net Potential Generating Capacity spanning operational assets and development projects

• 1GW Installed Net Generating Capacity currently operational across Europe and Asia

• 7.5GW Development Pipeline featuring high-quality projects in advanced stages

• 4.5GW Secured Leases providing additional future capacity potential

The venture's strategic geographic positioning encompasses North-West Europe, Australia, and Japan, with initial focus on disciplined development of existing projects while maintaining safe and efficient operation of current assets.

Disciplined Growth Framework and Capital Strategy

JERA Nex bp enters the market with a clearly defined capital structure designed to support measured expansion. The partners have committed to providing capital funding for investments before 2030 of up to $5.8 billion, demonstrating their confidence in the venture's strategic direction.

William Lin, BP's Executive Vice President for Gas & Low Carbon Energy, emphasized the venture's strategic value: "The JV allows bp to optimize and decapitalize our low carbon energy portfolio as we continue to maintain optionality for electron flows and more material value realization through this decade and the next".

Enhanced Operational Structure and Leadership

The venture has established JERA Nex bp Japan as a dedicated subsidiary for domestic Japanese projects, led by Masato Yamada, former Managing Executive Officer of JERA. This structure ensures localized expertise while maintaining global operational coordination under the main London headquarters.

Satoshi Yajima, JERA's chief renewable energy officer and CEO of JERA Nex, highlighted the transformative impact: "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".

International Recognition and Strategic Outlook

The joint venture has garnered significant government support from both nations. Japan's Vice-Minister for International Affairs Takehiko Matsuo called the collaboration "especially meaningful," while UK Trade Envoy to Japan Sharon Hodgson MP described it as "another strong example of UK-Japan collaboration" in advancing clean energy solutions.

As offshore wind capacity continues its rapid global expansion, JERA Nex bp's combination of operational excellence, strategic geographic positioning, and substantial capital backing positions the venture as a cornerstone player in the sector's next phase of growth.

Pioneering the Future of Offshore Wind

With the transaction completed on August 1, 2025, JERA Nex bp represents a new paradigm in offshore wind development—one where scale, expertise, and strategic partnerships converge to accelerate the global energy transition.

The venture's commitment to value-driven development and portfolio optimization, coupled with access to competitive financing and external capital, establishes a foundation for sustained leadership in the rapidly evolving offshore wind sector.

Source: bp.com

Prepared by: Next Move Strategy Consulting