JERA and BP have officially launched JERA Nex bp, a 50:50 joint venture poised to become a significant player in the offshore wind sector. With a combined portfolio boasting a net potential generating capacity of 13GW, the new entity is set to leverage the strengths of both parent companies to drive growth and innovation in renewable energy.
The joint venture brings together JERA’s operational expertise and BP’s offshore energy experience, creating a formidable force in the offshore wind market. JERA Nex bp’s portfolio includes 1GW of installed net generating capacity, a development pipeline of 7.5GW, and an additional 4.5GW secured through leases. This substantial pipeline positions the company to make a significant impact on the global offshore wind landscape.
Nathalie Oosterlinck, CEO of JERA Nex bp, highlighted the strategic advantages of the partnership: “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.”
The initial focus for JERA Nex bp will be on the disciplined development of existing projects within its global pipeline, while ensuring the safe and efficient operation of current assets in Europe and Asia. The company aims to continuously evaluate its project portfolio based on value creation opportunities and will explore competitive financing options through access to external capital.
Satoshi Yajima, JERA’s chief renewable energy officer and CEO of JERA Nex, emphasized the strategic importance of the joint venture: “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.”
The establishment of JERA Nex bp comes at a time when the offshore wind sector is gaining momentum globally. The joint venture’s ability to combine technical expertise, project management capabilities, and strong industry relationships could set a new standard for offshore wind development. As the company focuses on value creation and competitive financing, it may also influence the broader energy market by demonstrating the viability and profitability of large-scale offshore wind projects.
Additionally, JERA’s recent expansion of its joint venture with EDF Trading, JERA Global Markets, to include Japanese power trading underscores the company’s strategic focus on diversifying its energy portfolio and enhancing its market presence. This move, along with the launch of JERA Nex bp, positions JERA as a key player in the global transition towards renewable energy.
As the offshore wind sector continues to evolve, the collaboration between JERA and BP in JERA Nex bp could serve as a model for other energy companies looking to expand their renewable energy portfolios. The joint venture’s success will depend on its ability to navigate regulatory challenges, secure competitive financing, and deliver projects on time and within budget. If successful, JERA Nex bp could play a pivotal role in accelerating the global shift towards a decarbonised energy future.