bp and JERA have agreed to merge their offshore wind businesses to form JERA Nex bp, a new joint venture that will become one of the largest global offshore wind developers, owners, and operators. The new venture will have a mix of operating assets and development projects, with a total potential net generating capacity of around 13GW, with the majority 12 GW being under development. JERA Nex bp will initially focus on existing projects in North-West Europe, Australia, and Japan, while continuing to mature its development pipeline. Bp existing offshore wind partnerships in South Korea will not be included in the new joint venture.

Both partners will contribute to the new project portfolio, including JERA with a number of operational assets, and bp with several large projects in the UK, Germany and the US. Contributions to the new portfolio, in net capacity/MW:

JERA:

Operating assets:

Arcadis Ost 1 (180 MW), Germany

Belwind (134 MW), Belgium

Nobelwind (68 MW), Belgium

Northwester 2 (153 MW), Belgium

Gunfleet Sands (43 MW), UK

Ishikari Bay New Port (112 MW*), Japan

Formosa 1 (42 MW) , Taiwan

Formosa 2 (184 MW), Taiwan

Developing assets:

Blue Mackerel (752 MW), Australia

Spinifex (600 MW), Australia

Oriel (375 MW*), Ireland

SNII (1500 MW*), Norway

Oga Katagami (315 MW), Japan

bp:

Developing assets:

Mona (753 MW), UK

Morgan (753 MW), UK

Oceanbeat West (2000 MW), Germany

Oceanbeat East (2000 MW), Germany

Seabed lease secured:

Morven (1440 MW), UK

Flora (50 MW), UK

Beacon Wind 1&2 (2580 MW), USA

*Gross capacity