Market
Which country will BP and JERA's joint venture partner with by the end of 2025?
2
Resolution / Starting Odds
United States • 25%
United Kingdom • 25%
Germany • 25%
Other • 25%
Official announcements from BP, JERA, or partner countries
Story
BP, JERA to Merge Offshore Wind Businesses in $5.8 Billion Venture, Aiming for World Leadership
Dec 9, 2024, 10:28 AM
BP and Japan's JERA have announced plans to merge their offshore wind businesses into a new joint venture, aiming to create one of the largest global offshore wind developers. The new entity will see investments of up to $5.8 billion by 2030, with both companies committing to fund the development of offshore wind projects. This partnership comes as BP seeks to reduce its exposure to the struggling green power sector, while JERA, backed by Tokyo Electric Power Company and Chubu Electric Power, looks to expand its renewable energy portfolio. The joint venture is expected to be established in London by September 2025, with the goal of becoming a world leader in offshore wind power.
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Similar markets
Project in Asia-Pacific • 25%
Project in Europe • 25%
No major project announced • 25%
Project in North America • 25%
Europe • 25%
Other • 25%
Asia-Pacific • 25%
North America • 25%
10% to 15% • 25%
5% to 10% • 25%
Less than 5% • 25%
More than 15% • 25%
Other • 25%
BP • 25%
ExxonMobil • 25%
Chevron • 25%
A new partner • 25%
Equinor • 25%
Shell • 25%
Equal ownership • 25%
Gas production • 25%
Infrastructure development • 25%
Renewable energy projects • 25%
Oil production • 25%
Acquisition of small assets • 25%
No acquisitions • 25%
Acquisition of large assets • 25%
Acquisition of medium assets • 25%