Core Viewpoint - BP and JERA have decided to discontinue their joint offshore wind venture, JERA Nex bp, in the US due to significant political pushback and challenges in the offshore wind sector [1][2][3]. Group 1: Project Details - The planned 2.5 gigawatt (GW) Beacon wind farm off Massachusetts is directly impacted by the decision to cease operations [1]. - The joint venture, JERA Nex bp, was established in December 2024 and officially launched in August 2025, with a combined net potential generating capacity of 13GW [3][4]. - The venture includes 1GW of installed net generating capacity, a development pipeline of 7.5GW, and secured leases amounting to 4.5GW [4]. Group 2: Challenges Faced - The US offshore wind industry is experiencing significant challenges, including supply chain disruptions, inflation, and political risks, particularly for projects in federal waters [2]. - The current political environment under President Donald Trump has led to a halt in several offshore wind projects, creating uncertainty for future developments [1][2]. Group 3: Future Plans - Despite ceasing operations, JERA Nex bp will retain lease rights for the Beacon project and will monitor the situation for a more favorable time to restart development [3].

Financial Strategy - Ørsted plans to sell new shares at a 67% discount [1] Investor Confidence - The offshore wind developer works to rebuild investor confidence [1]

Renewable Energy Policy - The Trump administration is targeting offshore wind energy development [1] - Five US offshore wind developments are under review [1]

Offshore Wind Development - Connecticut Governor Ned Lamont pledged collaboration with the Trump administration to resume construction on a significant offshore wind development [1] - Governor Lamont expressed confidence in reaching an agreement despite the Interior Department's unexpected decision to suspend the project [1]

Regulatory Changes - The Trump administration is revoking approval for millions of acres of ocean designated for offshore wind development [1]