Belgium: JERA Nex bp increases ownership in Northwester 2 and Nobelwind, strengthening Belgian offshore wind portfolio

JERA Nex bp has completed the acquisition of Sumitomo Corporation’s stakes in the Nobelwind and Northwester 2 offshore wind farms, increasing its ownership in two key assets in its Belgian portfolio.

The transaction increases JERA Nex bp’s ownership of Northwester 2 to 100%, with the acquisition of Sumitomo’s 30% stake. The acquisition of Sumitomo’s 39.02% holding in Nobelwind takes JERA Nex bp’s total ownership stake to 80.1%.

JERA Nex bp developed, constructed and operates both offshore wind farms from its operations hub in Ostend, Belgium. The transaction reflects JERA Nex bp’s strategy to build a resilient offshore wind business focused on competitive assets in attractive markets where the company can create value as a long-term owner and operator.

'As we build JERA Nex bp, our focus is on disciplined investment and growth,' said Zlati Christov, Chief Investment Officer at JERA Nex bp. 'This transaction strengthens our position in an attractive portfolio of assets that we operate and know very well. Belgium has been central to our offshore wind journey for more than a decade, and we remain committed to safely and reliably delivering renewable energy through these projects for years to come.'

Northwester 2, commissioned in 2020, has a total installed capacity of 219MW. Nobelwind, commissioned in 2017 as a second phase of the company’s Belwind offshore wind farm, has a total installed capacity of 165MW.

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Source: JERA Nex bp

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About JERA Nex bp

JERA Nex bp is a purpose-built offshore wind company committed to unlocking the power of offshore wind by developing high-quality, competitive projects. A 50:50 joint venture between JERA Co. and bp, JERA Nex bp is an end-to-end developer, owner and operator with more than fifteen years of experience in operating offshore wind projects.

Headquartered in London, with offices across Europe, Asia, and Australia, JERA Nex bp has a portfolio of operational and development projects across nine countries and draws on a rich heritage of pioneering offshore wind in Asia Pacific and the North Sea.