Partner, Solicitorsjournal

JERA and bp form offshore venture

19 Dec 2024Announcements

A&O Shearman advises JERA on creating JERA Nex bp, a major offshore wind joint venture

A&O Shearman has advised JERA, the Japan-based energy giant, on forming a joint venture with bp to merge their offshore wind businesses, establishing a new standalone company named JERA Nex bp. The venture aims to become a leading player in the global offshore wind market, combining JERA’s expertise and bp’s strengths to form a company with a substantial portfolio of projects and operational assets, amounting to a total net generating capacity of 13GW.

This partnership reflects the commitment of JERA and bp to advancing renewable energy solutions and supporting the global energy transition. The new company, JERA Nex bp, will focus on developing, owning, and operating offshore wind projects worldwide. The balanced portfolio of operational assets and development projects will position JERA Nex bp as one of the largest global offshore wind developers and operators.

The A&O Shearman team leading this significant deal in London included partners Richard Evans, Stephen Mathews, and Mitch Ikoghode. In addition, partner Wouter Van de Voorde provided essential guidance on the Belgian elements of the transaction, while the firm’s Tokyo team, led by partner Matthias Voss, advised on relevant Japanese aspects of the deal.

Richard Evans, Co-Head of the Global Infrastructure group at A&O Shearman, commented: “We were able to bring together a strong cross-border team to advise our client on this deal which will play an important part in the global energy transition.”

The collaboration between JERA and bp highlights the strategic importance of scaling offshore wind projects to meet global renewable energy targets. With both companies bringing together their technical know-how, operational experience, and financial commitment, JERA Nex bp is well-positioned to drive significant advancements in renewable energy infrastructure worldwide.

As global demand for clean energy increases, the establishment of JERA Nex bp signifies a meaningful step forward in the offshore wind sector, promising enhanced development of projects that will contribute significantly to sustainable energy goals across multiple regions.

Legal News desk contact: editorial@solicitorsjournal.com

Latest Articles

Government scraps audit reform

What the collapse of the Audit Reform Bill means for regulation, accountability and legal practice

Sewage pollution litigation after Manchester Ship Canal

How the Supreme Court’s ruling is reshaping nuisance claims, protest litigation and regulatory limits across England and Wales

FCA non-financial misconduct rules clarified

The FCA’s final guidance on non-financial misconduct offers clarification, but leaves firms grappling with judgement-heavy implementation

Judiciary launches new diversity strategy initiative

The judiciary's new strategy aims to enhance diversity in the UK judicial system over five years

Personal injury claims numbers plummet dramatically

The number of personal injury claims in the UK has hit unprecedented lows, especially motor injury claims

Government urged to review legal costs

A senior costs lawyer has called for an independent review of fixed costs in the legal industry, highlighting the detrimental impact on firms and access to justice.

Building Safety Act litigation redefines investor risk

Recent case law shows how courts and tribunals are extending Building Safety Act liabilities beyond what investors originally anticipated

US musicians lose challenge over UK performers' rights restrictions

High Court rules treaty obligations non-justiciable in domestic law without parliamentary incorporation.

Actinon PTE Limited v Char Biocarbon Inc: Affirmation and contractual obligations

Commercial dispute highlights principles of waiver by election and contract interpretation

Matthew Haydon v R: Court of Appeal clarifies "likely" in explosive substances offences

Court confirms "likely" means "could well happen" rather than "more probable than not"

Cloisters Business Centre v Anvari: mixed-use premises and service charge protection

Court confirms tenants of mixed-use properties qualify for statutory service charge controls.

NHS commissioning activities fall outside TUPE protection, Court of Appeal rules

Employment law case clarifies when healthcare reorganisations trigger transfer protections for staff.

BTR Core Fund v HMRC: Upper Tribunal clarifies overpayment relief exclusions

Stamp duty land tax overpayment relief and the meaning of "mistake in a claim"

Court of Appeal rules criminal earnings count as income for ESA purposes

Criminal activity constitutes work and generates income for benefits assessment purposes.

Alpha Anne v Great Ormond Street Hospital: Indirect discrimination and TUPE transfers

Post-transfer pay disparity constitutes unlawful indirect race discrimination despite TUPE complications.

SJ Interview: Joelle Grogan

Dr Joelle Grogan is a legal scholar specialising in the rule of law in times of crisis. She presents The Law Show on BBC Radio 4, and is Co-Academic Director of the Rule of Law Clinic at the CEU Democracy Institute (Budapest), and a Senior Research Fellow at the UCD Sutherland School of Law. Her work focuses on constitutional accountability, emergency powers, and legal misinformation. In this interview, she examines the pressures facing the rule of law in the UK, from executive power and court delays to media narratives, emergencies, and the impact of AI on legal practice.

AI in Law: responsibility never delegated

As AI becomes routine in legal practice, regulators and courts insist accountability stays firmly with the human professional