BP JERA offshore wind joint venture to cease US operations 

The decision comes as the sector faces significant pushback from the Trump administration. 

BP and JERA have announced that their joint offshore wind venture, JERA Nex bp, will discontinue operations in the US.  

The decision comes as the sector faces significant pushback from the Trump administration, impacting the future of their planned 2.5 gigawatt (GW) Beacon wind farm off Massachusetts, as reported by Bloomberg. 

Since returning to office in January 2025, President Donald Trump has taken steps to halt several offshore wind projects.  

Many of these projects are planned in federal waters, which fall under the jurisdiction of the US leader and his executive branch, subjecting them to significant political risk. 

The company stated: "Unfortunately, in the present environment we see no viable path to the development of our Beacon wind project and have concluded that we cannot continue our investment in the market." 

The US offshore wind industry has faced challenges including supply chain disruptions, inflation and political risks, especially for projects located in federal waters, according to Reuters.  

These challenges have led to soaring costs, making it difficult for ventures such as JERA Nex bp to proceed. 

Despite the withdrawal of operational efforts, the company will continue to hold the lease rights for Beacon off the coast of Massachusetts and will wait for a more favourable time to restart development. 

In December 2024, BP and JERA reached an agreement to establish JERA Nex bp, one of the world's largest offshore wind operators. 

The joint venture was officially launched in August 2025, with a portfolio of assets and development projects and a combined net potential generating capacity of 13GW. 

This encompasses 1GW of installed net generating capacity, a development pipeline of 7.5GW and an additional secured leases amounting to 4.5GW.