The Japanese energy group JERA and the British multinational BP have announced the creation of JERA Nex bp, an equally-owned joint venture by combining their offshore wind businesses. JERA Nex bp will count with a portfolio of operating assets and development projects of 13 GW (1 GW operating, 7.5 GW under development, and 4.5 GW of potential capacity), and it expect. The company plans to focus its efforts on progressing existing projects in North-West Europe, Australia and Japan, as well as in other significant long-term opportunities.
The JV will have a capital of about US$5.8bn provided by the partners to finance investments before the end of 2030, to accelerate the development of its combined pipeline and to improve its access to competitive financing.
JERA Nex bp will be based in the United Kingdom and the partners expect to complete its formation by the end of the third quarter of 2025, once all relevant approvals have been obtained.
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