JERA Co., Inc. and bp have today announced the leadership team of their planned 50-50 offshore wind joint venture, JERA Nex bp. The new entity will be a leading global offshore wind developer, owner and operator and will be led by CEO Nathalie Oosterlinck, currently serving as CEO of JERA Nex.

In addition to Oosterlinck, the leadership team reflects the strong bench of talent from both organizations:

   - Erin Eisenberg, CFO; currently VP Finance, low carbon energy at bp
   - Richard Sandford, Chief Development Officer; currently SVP offshore wind at bp
   - Zlati Christov, Chief Investment Officer; currently Chief Investment Officer at JERA Nex
   - Eric Antoons, Chief Operating Officer; currently co-CEO of Parkwind
   - Alfonso Montero Lopez, Chief Technical Officer; currently VP, offshore wind engineering at bp

Formation of JERA Nex bp, first announced in December, is intended to accelerate development from the combined pipelines and bolster access to competitive financing.

Yukio Kani, Global CEO and Chair of JERA said: “The leadership team of JERA Nex bp brings together the best characteristics of both companies and has the experience and expertise to lead this next phase of development in offshore wind energy. With the backing of two strong shareholders with a long history of cooperation, and with an exciting and globally diversified development portfolio we are confident JERA Nex bp will play a critical role in the energy transition in Japan, the UK and beyond.”

William Lin, executive vice president for gas and low carbon energy, bp, said: “JERA Nex bp will enter the market with a world-class leadership team and a strong portfolio of high quality operating assets and projects pipeline. As a leading independent platform for renewables development, the JV will benefit from the strong partnership between the two shareholders that extends beyond low carbon energy.”

The announcement of the JERA Nex bp leadership team was made in the presence of Yoji Muto, Japan’s Minister of Economy, Trade and Industry; Jonathan Reynolds, UK Secretary of State for Business and Trade; and Julia Longbottom, the British Ambassador to Japan as part of the Signing ceremony for the Memorandum of cooperation in offshore wind power.

Subject to regulatory and other approvals, the new entity will have operating and development assets totaling 13GW potential net generating capacity across Europe, Asia Pacific and the US.

Notes to editors

Completion of JERA Nex bp is subject to regulatory and other approvals, with completion expected by end of the third quarter of 2025.
Further information on JERA Nex bp will be shared when it is available and appropriate prior to close.

About bp

bp (NYSE: BP, LSE: BP.L) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.

About JERA Co., Inc.

Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30 per cent of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for ‘Japan’s Energy for a New Era’, will take on the challenge of achieving net zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.