Joint Venture Formed

bp and JERA completed the formation of JERA Nex bp, an equally owned offshore wind joint venture combining each company’s offshore wind assets, including development projects such as Oceanbeat East and Oceanbeat West in Germany’s North Sea. Announced on 6 August 2025, the new JV is positioned as one of the largest global offshore wind developers, owners and operators, with a net potential generating capacity of 13 GW comprising around 1 GW of installed capacity, a 7.5 GW development pipeline and a further 4.5 GW of secured leases across nine countries. By bringing together bp’s offshore wind portfolio, including the Oceanbeat projects, with JERA’s assets and its JERA Nex platform, the partners aim to leverage their combined experience, relationships and purchasing power to scale offshore wind development. The company is headquartered in London with offices across Europe, Asia, the U.S. and Australasia.