JERA, bp seal offshore wind development venture
JERA and bp have established their new 50:50 offshore wind joint venture (JV) JERA Nex bp.
This is a global offshore wind developer, owner and operator, with operating assets and development projects providing a potential net generating total of 13 GW. That includes about 1 GW of installed net generating capacity, planned developments totalling 7.5 GW and a further 4.5 GW of secured offshore wind leases.
Going forward, the JV’s initial focus will be on development and optimization of existing projects through gaining access to external capital and competitive financing.
Also newly established is JERA Nex bp Japan, which is dedicated to the Japanese offshore wind development sector, led by former Jera managing executive officer Masato Yamada.
Late last year, JERA, Green Power Investment and Tohoku Electric Power applied to operate an offshore wind power project in the Sea of Japan offshore the southern side of Aomori Prefecture.
This is said to be one of Japan’s largest offshore wind projects to date, with a planned power generation capacity of 615 MW. It should start operations in June 2030.
JERA Nex bp will be headquartered in London with a management team drawn from both companies.