BP, JERA, Form Offshore Wind JV as BP Backs Off Renewables

Researched by Industrial Info Resources (Sugar Land, Texas)--BP (NYSE:BP) (London, England) and Japan's JERA said Monday they have agreed to form a 50:50 joint venture to operate and develop offshore wind assets. The move is widely seen as part of BP's efforts to distance itself from renewable energy and focus on its oil and gas assets and projects. For related information, see December 3, 2024, article - BP Backing Away from Hydrogen and U.S. Onshore Wind to Boost Profits.