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The companies first announced their intention to combine their offshore wind businesses to form a new standalone, equally owned joint venture in December 2024.

JERA Nex BP has a portfolio of operating assets and development projects with a net potential generating capacity of 13 GW.

The portfolio includes around 1 GW of installed net generating capacity, a 7.5 GW development pipeline and an additional 4.5 GW of secured leases.

JERA Nex BP will initially focus on developing projects from its existing global pipeline while continuing to operate existing assets in Europe and Asia. It will also seek to continuously prioritise and optimise its portfolio of projects based on value and will leverage access to external capital and competitive financing.

JERA Nex BP chief executive Nathalie Oosterlinck said, “JERA Nex BP begins life with a strong operating portfolio and an extensive development pipeline. 

“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.”

BP executive vice president for gas and low carbon energy William Lin said JV allows BP to “optimise and decapitalise our low carbon energy portfolio as we continue to maintain optionality for electron flows and more material value realisation through this decade and the next.” He said JERA Nex BP “will be an incredible vehicle to progress a global pipeline of projects.”

JER Nex chief executive Satoshi Yajima said the 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 the transaction completed on 1 August 2025, JERA Nex BP Japan – dedicated to developing and operating projects in Japan – has also been established, with Masato Yamada, former managing executive officer of JERA, appointed as chief executive. He will report to the chief executive of JERA Nex BP.

JERA Nex BP has selected its new headquarters in London and is led by a highly experienced management team drawn from both partners, bringing insights into both global access and local markets.