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    Home > Finance > BP, JERA form JV combining offshore wind operations
    Finance

    BP, JERA form JV combining offshore wind operations

    Published by Global Banking & Finance Review®

    Posted on December 9, 2024

    1 min read

    Last updated: January 27, 2026

    Image depicting a modern offshore wind farm, symbolizing the joint venture between BP and JERA, focusing on renewable energy advancements in finance.
    Offshore wind farm illustrating BP and JERA's new joint venture - Global Banking & Finance Review
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    Quick Summary

    BP and JERA have created a joint venture, JERA Nex bp, to combine their offshore wind operations, aiming for a 13 GW capacity, marking a strategic shift for BP.

    BP and JERA Collaborate on Offshore Wind Operations

    By Ron Bousso

    LONDON (Reuters) -BP and Japanese power generator JERA said on Monday they have agreed to form a standalone joint venture combining their offshore wind operations.

    The 50-50 venture, called JERA Nex bp, will include operating assets and development projects with a potential generation capacity of 13 gigawatts, BP said in a statement.

    The move is a key step in CEO Murray Auchincloss's drive to reduce BP's focus on renewables in order to focus on higher-return operations, primarily in oil and gas.

    (Reporting by Ron Bousso; editing by Jason Neely)

    Key Takeaways

    • •BP and JERA form a 50-50 joint venture.
    • •The venture is named JERA Nex bp.
    • •Focus on offshore wind operations.
    • •Potential generation capacity of 13 gigawatts.
    • •BP shifts focus from renewables to oil and gas.

    Frequently Asked Questions about BP, JERA form JV combining offshore wind operations

    1What is the main topic?

    The main topic is the formation of a joint venture between BP and JERA to combine their offshore wind operations.

    2What is the capacity of the new venture?

    The joint venture has a potential generation capacity of 13 gigawatts.

    3Why is BP shifting its focus?

    BP is shifting its focus to higher-return operations, primarily in oil and gas, reducing its focus on renewables.

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