JERA NEX BP DEVELOPMENT LIMITED

What JERA NEX BP DEVELOPMENT LIMITED does

JERA Nex bp is a 50:50 joint venture between JERA Co., Inc. (Japan's largest power generator) and bp plc, formed on August 1, 2025, to develop, own, and operate offshore wind projects globally. The company operates a portfolio of approximately 13GW across twenty projects spanning nine countries (the United Kingdom, Belgium, Germany, Ireland, Norway, Taiwan, Japan, Australia, and the United States), of which seven sites are operational and the balance is split between 7.5GW in development and 4.5GW in secured-lease status. Core technology comprises fixed-bottom and floating offshore wind turbines across both European waters and the Asia-Pacific region, with operational milestones including Arcadis Ost 1 (the company's first commercial floating offshore wind asset, December 2023), Formosa 2 in Taiwan, and the Ishikari Bay New Port project in Japan (January 2024).

The business model centers on long-term Power Purchase Agreements with national utility offtakers; named counterparties include Taiwan Power Company under 20-year PPAs covering Formosa 1 and Formosa 2, and Hokkaido Electric Power Network. Revenue flows through electricity sales under these creditworthy utility contracts, supplemented by additional utility offtake arrangements (e.g., Oriel with ESB, Sørlige Nordsjø II utility) for development assets. The portfolio split of 1GW operational to 12GW pipeline implies a multi-year revenue ramp profile as development-stage projects reach commercial operation.

Operational capability is delivered through a fully built-out executive team and regional structure: Nathalie Oosterlinck (CEO), Ioanna Exarchou (CFO), Zlati Christov (CIO), Alfonso Montero Lopez (CTO), Kristof Verlinden (COO), Richard Sandford (CDO), Ben Hunt (SVP Communications), Masato Yamada (SVP Japan), Matthias Voss (SVP General Counsel), and Suzanne Scothorn (SVP HR). The company has inherited fifteen-plus years of operational experience from predecessor entities, runs a Supplier Collaboration Hub for supply chain coordination, and pursues a balanced strategy of organic development and selective M&A (e.g., acquisitions of EnBW's Mona stake and Sumitomo's Northwester 2 and Nobelwind stakes) to accelerate pipeline progression.

Name

JERA NEX BP DEVELOPMENT LIMITED

Legal name

JERA NEX BP LIMITED

Website

https://jnbp.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

1–10 employees

Short description

JERA Nex bp is a 50:50 joint venture between JERA and bp, formed August 2025, that develops, owns, and operates offshore wind projects globally. The company manages a ~13GW portfolio across nine countries, selling generation to national utilities under long-term power purchase agreements.

Ownership category

akta.pro rank

Product category

Offshore Wind Energy

NAICS

Wind Electric Power Generation (221115)

akta.pro primary industry

Offshore Wind Project Development & Leasing (EUAMACAB)

Keywords

• Offshore wind development
• Wind farm operations
• Renewable energy generation
• Power purchase agreements
• Offshore wind projects

Headquarters

HQ city

Sunbury-on-thames

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Offshore Wind Electricity Generation & Sale: JERA Nex bp develops, owns, and operates offshore wind farms, generating revenue through the sale of electricity under long-term Power Purchase Agreements (PPAs) with utility companies and grid operators. Operational projects in Europe and Asia (~1GW) feed into these PPAs, while development projects (7.5GW pipeline + 4.5GW secured leases) represent future revenue-generating capacity.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

JERA Nex bp is a global offshore wind developer, owner, and operator that develops, constructs, owns, and operates offshore wind farms across Europe, Asia Pacific, and the United States. The company generates revenue by selling electricity produced by its operational wind farm portfolio to national and regional electricity utilities under long-term Power Purchase Agreements (PPAs), while advancing a multi-gigawatt development pipeline and secured lease portfolio for future generation capacity.

Product overview

JERA Nex bp is a purpose-built offshore wind company formed as a 50:50 joint venture between JERA Co. and bp in August 2025. The company operates as an end-to-end offshore wind developer, owner, and operator with a global portfolio spanning Europe, Asia-Pacific, Japan, and the United States. Their portfolio includes approximately 1GW of operational assets, approximately 7.5GW in development, and approximately 4.5GW of secured leases, totaling approximately 13GW of net potential generating capacity. The company offers offshore wind development services, asset ownership, and operations and maintenance across multiple wind farm projects including Formosa 2 (376MW), Arcadis Ost 1 (257MW), Mona (~1.5GW), Morven (~3GW), Ishikari Bay New Port (112MW), Nobelwind (165MW), Northwester 2 (219MW), Beacon Wind (~2.5GW), Oceanbeat (~4GW), Blue Mackerel (~1GW), Spinifex (~1GW+), Sørlige Nordsjø II (~1.5GW), Tsugaru (>600MW), and Oga Katagami Akita. The company also maintains a Supplier Collaboration Hub for partner engagement.

Differentiator

Problem solved

Functional benefit

Products and services

• Formosa 2 376MW offshore wind project off Miaoli County, Taiwan with 47 fixed-bottom turbines, generating electricity under a 20-year PPA with Taiwan Power Company.
• Arcadis Ost 1 257MW offshore wind project in the German Baltic Sea featuring an innovative floating turbine installation approach enabling deployment at water depths up to 45m without jack-up vessels.
• Ishikari Bay New Port 112MW offshore wind farm in Hokkaido, Japan with 14 Siemens Gamesa 8MW turbines and 180MWh battery storage, supplying all generated power to Hokkaido Electric Power Network.
• Nobelwind 165MW offshore wind project off Ostend, Belgium, operational since 2017 with 50 turbines covering 19.8 km².
• Northwester 2 219MW offshore wind project off Ostend, Belgium, operational since 2020 with advanced turbine and foundation technology.
• Mona Offshore Wind Project Approximately 1.5GW offshore wind project in the Irish Sea, with potential to power ~1.5 million UK homes; JERA Nex bp acquired full ownership in January 2026.
• Morven Offshore Wind Project Approximately 3GW offshore wind project off the Aberdeenshire coast in the North Sea, jointly developed with EnBW, with potential to power ~3 million UK homes.
• Beacon Wind Approximately 2.5GW offshore wind project in US federal waters between Cape Cod, Massachusetts and Long Island, New York, targeting power for ~1 million US homes.
• Oceanbeat Oceanbeat East and Oceanbeat West projects in the German North Sea with approximately 4GW combined potential generating capacity.
• Blue Mackerel Approximately 1GW offshore wind project off Gippsland, Victoria, Australia, targeting power for ~500,000 Victorian homes.
• Spinifex 1GW+ offshore wind project off South West Victoria, Australia, anticipated to start producing power in 2032.
• Sørlige Nordsjø II Norway's first major offshore wind project on the Norwegian continental shelf with approximately 1.5GW capacity via the Ventyr consortium, including a ~200km HVDC link to Kvinesdal.
• Tsugaru Over 600MW offshore wind project in the Sea of Japan off Aomori Prefecture, Japan, planned for 2030 operation.
• Oga Katagami Akita Offshore wind project in Akita Prefecture, Japan, with targeted commercial operation in June 2028, developed in consortium with J-POWER, Itochu, and Tohoku Electric Power.
• Offshore Wind Development Services End-to-end development services for offshore wind projects covering R&D, site assessment, wind farm design, permitting, system integration, and fisheries coexistence, delivered to internal projects and consortium partners.
• Offshore Wind Operations and Maintenance Operations and maintenance services for offshore wind projects ensuring efficient, safe, and reliable power generation, covering ~1GW of capacity across operational assets in Europe and Asia.

Quantifiable outcome

• ~1.5 million UK homes powered by Mona Offshore Wind Project (1.5GW)
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• EnBW (Energie Baden-Württemberg AG)coreStrategic or Co-development Partner · 16 January 2026EnBW is a co-development partner on UK offshore wind projects Mona (acquired by JERA Nex bp in January 2026), Morgan (JERA Nex bp decided not to proceed with Agreement for Lease), and Morven (jointly developed with JERA Nex bp). EnBW brought ~1GW of operational offshore experience and contributed to UK Round 4 leasing round applications. JERA Nex bp acquired EnBW's stake in Mona in January 2026.
• JERA Co.coreStrategic or Co-development Partner · 1 August 2025JERA Nex bp is a 50:50 joint venture between JERA Co. and bp, formed on August 1, 2025. The JV combines JERA's offshore wind development and safe operations expertise with bp's development portfolio and offshore energy experience. JERA brings its operational portfolio (including Parkwind assets), and bp contributes its development pipeline. The JV is headquartered in London with a Japan subsidiary (JERA Nex bp Japan).
• bpcoreStrategic or Co-development Partner · 1 August 2025bp and JERA formed a 50:50 JV, JERA Nex bp, bringing together bp's development portfolio with JERA's operational portfolio and expertise. The JV enables bp to optimise and decapitalise its low carbon energy portfolio while providing a platform for JERA Nex bp to access external capital and competitive financing. The JV leverages deep engineering, technical and project management expertise, and established procurement capabilities and relationships.
• Future Woodlands ScotlandmajorStrategic or Co-development Partner · 1 January 2023Partnership to deliver the Urban Forestry Programme supporting urban greening projects across Scotland. bp originally pledged up to £10 million over 10 years as part of its stake in the ScotWind Morven project. JERA Nex bp assumed bp's role and pledge upon formation in August 2025. The programme funds community-led urban woodland projects (grants of £2,000 to £100,000) aimed at meeting the 3:30:300 urban tree canopy rule. £1,360,000 invested across 25 projects in two years, over 6,500 trees planted.
• Ventyr Consortium (Ingka Investments / IKEA)majorStrategic or Co-development PartnerVentyr is the consortium developing Sørlige Nordsjø II (SNII), Norway's first major offshore wind project. The consortium is a joint venture between JERA Nex bp and Ingka Investments (the investment arm of Ingka Group, owner of IKEA). SNII will consist of ~80-100 turbines with ~1.5GW potential capacity and a ~200km HVDC link to Kvinesdal, Norway.
• Green Power Investment (GPI)majorStrategic or Co-development PartnerGPI (株式会社グリーンパワーインベストメント) is a Japanese renewable energy developer and co-owner of Ishikari Bay New Port Offshore Wind Farm (112MW, operational since 2024) and joint venture partner on Tsugaru project (600MW+). GPI developed Ishikari Bay New Port over many years — it is Japan's largest offshore wind farm at commercial operation.
• Hokkaido Electric Power Co.coreStrategic or Co-development PartnerHokkaido Electric Power Co. is a co-owner of Ishikari Bay New Port Offshore Wind Farm and off-taker of all electricity generated by the project. The project supplies all generated power to Hokkaido Electric Power Network through a project substation with 180MWh battery storage.
• Tohoku Electric Power Co.coreStrategic or Co-development PartnerTohoku Electric Power Co. is a co-development partner on Ishikari Bay New Port (operational), Tsugaru project, and Oga Katagami Akita project. Tohoku is one of Japan's major regional utilities and brings local grid integration expertise and operational experience.
• J-POWER (Electric Power Development Co., Ltd.)coreStrategic or Co-development PartnerJ-POWER (電源開発株式会社) is a consortium partner on the Oga Katagami Akita Offshore Wind Project in Akita Prefecture, Japan. J-POWER is a large-scale power generation company with extensive experience developing, constructing, and operating power projects globally.
• Itochu CorporationmajorStrategic or Co-development PartnerItochu Corporation (伊藤忠商事株式会社) is a consortium partner on the Oga Katagami Akita Offshore Wind Project. Itochu brings trading house expertise, supply chain capabilities, and project finance experience to the joint development.
• ESB (Electricity Supply Board)majorStrategic or Co-development PartnerESB, Ireland's leading electricity utility majority-owned by the Irish Government, is co-developing the Oriel Offshore Wind Farm project (375MW) with JERA Nex bp. Oriel is expected to be Ireland's first fully operational offshore wind farm, located 22km off Dundalk.
• Synera Renewable Energy Co., Ltd.minorStrategic or Co-development PartnerSynera Renewable Energy Co., Ltd. is a development partner on the Formosa 2 offshore wind project (376MW, 47 turbines) in Taiwan. Formosa 2 was the first offshore wind project completed after COVID-19 in Taiwan.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Ørsted: Ørsted is the world's largest pure-play offshore wind developer and operator, with a comparable integrated developer-owner-operator model across the US, Europe, and Asia Pacific. Its portfolio of operational and development projects and reliance on long-term PPAs directly parallel JERA Nex bp's business.
• Iberdrola (Avangrid / ScottishPower Renewables): Iberdrola is one of the world's largest offshore wind developers through Avangrid (US) and ScottishPower Renewables (UK/Europe). It shares a similar integrated utility-developer model and has competed directly with JERA Nex bp in UK and European lease auctions.
• RWE: RWE is a leading European offshore wind developer with operational and development projects across the UK, Germany, and the US. It shares the same PPA-based revenue model and competes directly with JERA Nex bp in European auctions and US lease rounds.
• EDF Renewables: EDF Renewables develops and operates offshore wind projects globally as part of the EDF Group, with major projects in France, the UK, and the US. It competes for the same tenders and PPAs as JERA Nex bp, particularly in French and UK waters.
• Equinor: Equinor is a major integrated energy company with significant offshore wind development globally, including Hywind (floating wind) and large US projects. It competes head-to-head in tenders such as US federal lease auctions and has comparable floating wind technical capability to JERA Nex bp.
• Vattenfall: Vattenfall is a Swedish state-owned utility with significant offshore wind operations in the UK, Germany, Denmark, and the Netherlands. Its developer-owner-operator model and reliance on European auctions make it a direct comparable.
• Ocean Winds: Ocean Winds is a 50:50 joint venture between EDP and Engie dedicated to offshore wind, structurally analogous to JERA Nex bp's JERA/bp JV. It develops, builds, and operates offshore wind projects globally and is the closest structural peer to JERA Nex bp in business model.
• EnBW: EnBW is a German utility with offshore wind operations and development projects in the UK and Germany. It has been an active partner/competitor to JERA Nex bp on Mona, Morgan, and Morven UK Round 4 projects, and competed in the same German offshore wind auctions as Oceanbeat.

Broad incumbents

• Shell: Shell is a global energy major with offshore wind projects in the US, UK, and Netherlands (e.g., Hollandse Kust Noord, Atlantic Shores). It competes with JERA Nex bp in lease auctions and shares a similar supermajor-backed approach to offshore wind investment.
• TotalEnergies: TotalEnergies is a global energy major with growing offshore wind operations, particularly in the UK, US, and Asia. While offshore wind is one of several business lines (unlike JERA Nex bp's pure-play focus), it competes for the same projects and lease areas.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jera-nex-bp

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about JERA NEX BP DEVELOPMENT LIMITED