JERA and bp completed the merger of their offshore wind businesses into JERA Nex bp, a 50:50 UK-based joint venture, on August 1, 2025, the companies announced on August 4, 2025.
The deal, first announced in December 2024, received all required regulatory approvals and concluded ahead of its original end of September 2025 target. JERA Nex bp’s 13GW portfolio includes, according to JERA, “1GW of installed net generating capacity, a 7.5GW development pipeline and an additional 4.5GW of secured leases.”
Upon completing the transaction, the joint venture established JERA Nex bp Japan, a subsidiary to oversee its projects in the country. The unit is led by Masato Yamada, former Managing Executive Officer at JERA responsible for its domestic offshore wind business.
The merger covered all of the two companies’ offshore wind projects except for bp’s existing investments in South Korea. Two of them, including the operational 112MW Ishikari Bay New Port Offshore Wind Farm and the under-development 315MW Oga-Katagami-Akita, are in Japan. JERA originally held stakes in both.
Separately from offshore wind, JERA also merged its Japan power trading business with EDF Trading’s under their Singapore-based joint venture JERA Global Markets in April 2025.
