A windfarm in the Irish Sea is among a portfolio of assets now owned by JERA Nex bp, a 50:50 joint venture between bp and JERA aiming to ‘develop the global offshore wind energy sector.’
The new company’s portfolio of operating assets and development projects has a net potential generating capacity of 13GW made up of around 1GW of installed net generating capacity with 7.5GW in development plus an additional 4.5GW of secured leases.
Around 1,500MW of capacity would be created through the development of the Mona Windfarm in the eastern Irish Sea which was released as part of round 4 of the government’s offshore wind licensing arrangements.
“JERA Nex bp begins life with a strong operating portfolio and an extensive development pipeline,” Nathalie Oosterlinck, CEO of JERA Nex bp said.
“We bring together two highly capable teams with the experience, relationships, purchasing power and unique global access of two of the East and West’s pre-eminent energy companies.
“This gives us the expertise and experience to find new ways to create value from offshore wind and become one of the world’s leading companies in the sector.”
96 turbines are planned for the Mona windfarm.
William Lin, bp executive vice president for gas and low carbon energy, added: “Today’s launch marks an important delivery milestone for JERA Nex bp and we are proud to be a partner in this top-tier global offshore wind developer.
“The JV allows bp to optimise and decapitalise our low carbon energy portfolio as we continue to maintain optionality for electron flows and more material value realisation through this decade and the next.”
JERA Nex bp has selected its new headquarters in London and is led by a management team drawn from both partners.
Satoshi Yajima, chief renewable energy officer of JERA and CEO of JERA Nex, said: “Our partnership with bp has accelerated the growth trajectory of JERA’s overall renewable energy strategy, and the completion of the JV formation reflects the strength and agility that will position JERA Nex bp for long-term success.
“With support from both partners, JERA Nex bp will serve as a cornerstone in helping the world realise a decarbonised energy future.”
