JERA

“In renewable energy, we are strengthening our global development and operational capabilities through JERA Nex bp, which develops and operates offshore wind power projects, while maintaining rigorous investment discipline and enhancing our competitiveness.”

“This spring marked two years since the creation of JERA Nex, which specializes in renewable energy. The business environment has grown tougher over those two years. Nevertheless, we have continued to expand our business”

“Bringing large-scale renewable energy projects such as offshore wind to fruition in a timely and economically viable manner is no easy task. However, JERA Nex moves forward by building consensus through frank and, at times, intense discussions with JERA Nex bp`s management and project teams.”

JERA restates its target of 20 GW of renewable energy development capacity by FY2035 and reports 4.64 GW reached in FY2025. It lists inflation and rising costs, policy changes and grid weaknesses among the risks to the renewables business.

JERA states that its Japanese offshore wind interests in the Tsugaru project off southern Aomori (615 MW, commercial operation planned June 2030) and the operating Ishikari Bay New Port farm (112 MW) were transferred to JERA Nex bp on 1 April 2026, following the Oga, Katagami and Akita project (315 MW, planned June 2028), transferred on 1 August 2025. It lists its 50% stake in JERA Nex bp at 1,389 MW of offshore wind, including capacity under construction and development.

“Recognizing the exposure to transition volatility seen in recent years, JERA Nex bp plans to focus on highly disciplined, capital efficient growth, with bp retaining an option to our equity share of power offtake.”

“Costs have truly risen, creating a challenging environment, but rather than giving up, we aim to demonstrate that offshore wind power is feasible in Japan and that it can be a viable business — by successfully completing projects in both Akita and Aomori.”

JERA Nex bp acquired full ownership of the 1.5 GW Mona offshore wind project from joint venture partner EnBW following EnBW's withdrawal. JERA Nex bp will not continue with the 1.5 GW Morgan offshore wind project.

“The US is a market with significant long-term potential for offshore wind, which we still believe can play a key role in the country's energy transition. For now, we will continue to maintain the Beacon lease and wait for a more favourable moment to resume project development.”

“This is a landmark day for JERA's renewable energy journey. 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.”

“Offshore wind has significant potential and is a critical component of the energy transition. The sector is at an inflection point, and we believe the transformative partnership launched today between our two companies combines the resources, capabilities, and network necessary to be a world-class offshore wind company, and in doing so, realise the potential of offshore wind globally, while positioning this business for long term success.”

The Tsugaru Offshore Energy Consortium led by JERA, Green Power Investment, and Tohoku Electric was selected for the 615 MW Sea of Japan (South), Aomori offshore wind project with a committed commercial operations date of June 2030.

JERA is actively setting the pace in the energy transition, positioning the company at the forefront through strategic partnerships. The 2035 strategy targets 20 GW of renewable capacity, with total capital investment of 5 trillion JPY distributed across three pillars — LNG, renewables, and hydrogen/ammonia.

“We have outlined a vision to reach zero emissions by 2050, and the birth of JERA Nex plays a critical role in our strategic pillars for delivering that ambition. JERA Nex will enable us to draw upon expertise from across the world to develop renewable projects, forge partnerships, and build assets that contribute to a future of decarbonized energy with sustainability, affordability, and stability.”

JERA and consortium partners Electric Power Development (J-POWER), Tohoku Electric Power, and Itochu Corporation were selected to develop the 315 MW Oga-Katagami-Akita offshore wind farm with a committed commercial operation date of June 2028.

“The realization of commercial operations for Formosa 2 represents a triumph of collective effort, and unwavering resilience.”

“This marks a significant milestone in JERA's journey to achieve our mission to provide cutting-edge solutions to the world's energy issues.”

“Parkwind is highly attractive and complementary with JERA's offshore wind strategy and ambitions. For JERA, the Transaction is as much about people as it is about projects and pipeline, all of which Parkwind bring in a material and meaningful way.”

JERA decided to transfer all its shares in Formosa 3 as a result of careful assessment for optimizing JERA's investment portfolio while continuing participation in existing energy projects in Taiwan.

“We believe this agreement between the three companies will accelerate the development of floating offshore wind and open up the possibility of using offshore energy in Japan and other areas with limited potential for fixed-bottom offshore wind.”

“JERA will promote the development of renewable energy centered on offshore wind power projects and work to further improve the efficiency of LNG thermal power generation. Zero CO2 emissions will be achieved by establishing roadmaps that show optimal solutions for each country and region.”

By simultaneously participating in projects at varying development stages within Taiwan — whose environmental conditions mirror Japan's — JERA seeks to build expertise for expanding large-scale offshore wind initiatives across Japan and internationally.

“Through its participation in the Gunfleet Sands Project, JERA will gain knowledge and experience in operation of the offshore wind power generation and leverage this to move forward with projects in Japan and abroad. Offshore wind power business is a mature industry in Europe but is still at an early stage in Asia, including Japan, having much room to develop.”