JERA Nex BP to Withdraw from US Offshore Market, Halts Beacon Wind Investment

JERA Nex BP, a joint venture between JERA and BP, has decided to reduce its activities in the US to a minimal level and will close its operating activities in the market.

As a result of this decision, all team members will leave JERA Nex BP in the coming months, according to the company, which was launched in August 2025.

Citing unfavourable market conditions, the company stated that it sees no viable path to advance its Beacon Wind project and has decided to cease its investment in the market.

“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,” said JERA Nex BP.

“For now, we will continue to maintain the Beacon lease and wait for a more favourable moment to resume project development.”

The Beacon Wind lease area, previously owned jointly by Equinor and BP, is located offshore Massachusetts and is being developed in two phases, both planned to feed electricity into the New York grid.

The US Bureau of Ocean Energy Management (BOEM) started the permitting process for the Beacon Wind projects’ Construction and Operation Plan (COP) in June 2023. In May 2024, BOEM issued a final environmental assessment (EA).

In February 2025, the developer withdrew the application for the transmission system that would connect the project to the grid on land.

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