Pair feature in two different consortium groups both to use Siemens Gamesa turbines as Japan awards development rights for another 1.1GW
bp and Japanese power generator JERA will form a new joint venture to become one of the largest global offshore wind developers, both companies announced on Monday.
The merger will establish a global business called JERA Nex bp, 'with a balanced mix of operating assets and development projects with total 13 GW potential net generating capacity.'
JERA Nex bp will focus on existing projects in North-West Europe, Australia, and Japan, according to the statement.
The company aims to accelerate development from the combined pipeline and bolster access to competitive financing.
According to the statement, the partners will invest up to $5.8 billion in projects committed before 2030.
The joint venture is expected to be finalized by the end of the third quarter of 2025, subject to regulatory approvals.
'This will be a very strong vehicle to grow into an electrifying world, while maintaining a capital-light model for our shareholders,' said Murray Auchincloss, chief executive officer of bp.
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