Energy companies BP and JERA join three Belgian offshore wind farms
British oil giant BP and Japanese energy group JERA are merging their offshore wind activities. BP will join three wind farms off the Belgian coast that were built by Leuven-based Parkwind.
The joint venture, named JERA Nex bp, will bring together both companies’ existing projects and plans to invest up to 5.8 billion USD in offshore wind development by 2030. The collaboration is a significant shift in BP’s energy portfolio, which has seen a recalibration of its renewable energy investments.
Parkwind, a wind farm developer acquired by JERA last year from the Colruyt Group, is central to JERA Nex bp’s offshore activities. It has already been instrumental in building three wind farms off the Belgian coast: Belwind, Nobelwind and Northwester 2.
Expansion beyond Europe
JERA Nex bp starts with an operational capacity exceeding 1 gigawatt, comprising four wind farms constructed by Parkwind. These are three Belgian and one German park that were built by Parkwind, along with stakes in projects in the UK, Japan and Taiwan. Initially, the joint venture will focus on expanding its presence in northwest Europe, as well as regions like Australia and Japan.
The partnership comes as BP shifts its renewable energy strategy. While the company reaffirmed its commitment to clean energy projects, it has scaled back its renewable energy investments "for the rest of the decade". Despite these adjustments, BP’s involvement in the new joint venture underscores its intention to remain a key player in the global energy transition.
#FlandersNewsService | © PHOTO PRESS ASSOCIATION
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