Taken from Energy Digital written by Chloe Williment on August 07, 2025

bp and JERA form JERA Nex bp, a UK-based offshore wind venture with 13 GW in capacity, deepening UK-Japan ties and expanding clean energy globally

bp has now completed five major project start-ups in 2025, adding JERA Nex bp to the list.

This new 50:50 joint venture with JERA brings together two major players in energy with a clear focus on expanding offshore wind power.

The new company is not only a developer but also an owner and operator of offshore wind assets.

Its headquarters is based in London, and it brings together leadership from both bp and JERA to pursue a global renewable strategy.

With a stated mission to scale its presence while keeping safety and performance central, JERA Nex bp already enters the sector with a considerable footprint.

Offshore wind on a global scale

JERA Nex bp’s portfolio includes around 1 GW of installed net generating capacity.

That refers to the amount of power the company already produces from its offshore wind farms, adjusted to reflect its 50% ownership stake in the projects.

On top of this, it holds a development pipeline of 7.5 GW and another 4.5 GW secured through leases, meaning land or sea areas have already been set aside for future energy production.

Together, these assets provide a net potential generating capacity of 13 GW, which positions the joint venture among the top offshore wind operators globally.

“We have a brilliant team at bp and an ambitious growth plan,” says Murray Auchincloss, CEO of bp.

“Make no mistake, we are focused on delivery and doing so at pace.”

Nathalie Oosterlinck, CEO of JERA Nex bp, says: “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.”

Building a global energy pipeline

From an energy perspective, the value in JERA Nex bp lies in its access to capital, joint expertise and geographical reach.

With a base in London and a local division in Japan, the company is designed to manage both regional challenges and global ambitions.

William Lin, Executive Vice President for Gas & Low Carbon Energy at bp, says: “Today’s launch marks an important delivery milestone for JERA Nex bp and we are proud to be a partner in this top-tier global offshore wind developer. 

“The 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.

“With a disciplined, value-driven focus for development, JERA Nex bp will be an incredible vehicle to progress a global pipeline of projects.”

This strategy allows bp to shift the financial and operational burden of development while still capturing the long-term energy value of offshore wind assets.

For JERA, which is Japan’s largest power generation company, the venture supports the country’s push to scale up renewables and cut dependence on imported fossil fuels.

Linking Japan and the UK in clean energy

The joint venture officially launched on 1 August 2025 and now includes a dedicated arm for Japan called JERA Nex bp Japan.

It will be led by Masato Yamada, former Managing Executive Officer at JERA, who now reports to the overall CEO of JERA Nex bp.

“This is a landmark day for JERA’s renewable energy journey,” explains Satoshi Yajima, Chief Renewable Energy Officer at JERA and CEO of JERA Nex.

“Our 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 support from both partners, JERA Nex bp will serve as a cornerstone in helping the world realise a decarbonised energy future.”

The venture also receives political backing from both sides.

“The collaboration between Japanese and UK companies, both with outstanding expertise, experience and capabilities, is especially meaningful,” says Mr Takehiko Matsuo, Japan’s Vice-Minister for International Affairs at the Ministry of Economy, Trade and Industry.

“As one of the world’s leading offshore wind energy companies, a key role in promoting offshore wind on the global stage is strongly expected.”

Sharon Hodgson MP, UK Trade Envoy to Japan, comments: “It’s great that bp and JERA Nex have completed their UK-headquartered joint venture, making them one of the world’s largest offshore wind developers and operators.

“This marks another strong example of UK-Japan collaboration, highlighting its growing role in advancing clean energy solutions.”