BP’s head of offshore wind, Matthias Bausenwein, is set to depart the company following BP’s decision to merge its offshore wind operations into a joint venture with Japan’s JERA. Bausenwein, who joined BP in August 2022 from Ørsted, played a pivotal role in advancing BP’s offshore wind initiatives. His departure marks the second high-profile exit from BP’s renewables division this year, following the resignation of Anja-Isabel Dotzenrath, former head of renewables, in April.
The newly formed joint venture, JERA Nex BP, aims to become a leading global offshore wind operator, consolidating assets with a potential generation capacity of 13 gigawatts. BP and JERA have committed up to $5.8 billion in funding for projects approved by the joint venture by 2030, with BP contributing up to $3.25 billion and JERA up to $2.55 billion.
These developments occur amid BP’s strategic shift under CEO Murray Auchincloss, who has emphasized a return to more profitable oil and gas ventures, scaling back the company’s previous aggressive expansion into renewables. This transition reflects a broader trend among European oil majors reassessing their renewable energy commitments in response to market dynamics and investor expectations.
In the interim, Richard Sandford, who joined BP in 2022 … will assume the role of head of offshore wind. BP’s collaboration with JERA is expected to enhance its position in the offshore wind sector while aligning with its revised strategic focus.
