BP, JERA joining forces to create top global offshore wind joint venture. (Photo: BP/JERA)
BP and Japan's JERA announced on Dec. 9 that they plan to invest $5.8 billion by the end of 2030 to integrate their respective offshore wind businesses through a joint venture. The new company is expected to become one of the world’s largest developers and operators in the industry.
BP, JERA to merge offshore wind businesses
According to a joint press release, the two companies will transfer their offshore wind businesses into a new company called JERA Nex bp, with each holding a 50% stake. The joint venture will have a potential net power generation capacity of 13 GW across current assets and development projects, with a focus on North-Western Europe, Australia, and Japan.
