bp and JERA have agreed to merge their offshore wind businesses to form a new, equally-owned joint venture (JV) called JERA Nex bp. This venture will have a total potential net generating capacity of 13 GW and will manage a balanced portfolio of operational assets and development projects.
Additionally, the partners plan to provide capital funding of up to $5.8 billion committed before the end of 2030. The companies will contribute interests that include operating assets with approximately 1 GW of net generating capacity, a pipeline of high-quality development projects totaling around 7.5 GW, and additional secured leases with a potential capacity of about 4.5 GW.
The two companies have had business deals previously as well. In August 2024, Jera Nex, a subsidiary of Jera acquired two US solar projects with a combined capacity of 395 MW from Lightsource bp (now fully owned by bp). It includes the 300 MW Oxbow Solar Farm in Louisiana and the 95 MW Happy Solar Farm in Arkansas.
