BP's offshore Wind Head to Step Down

A spokesperson for BP announced on Monday that Matthias Bausenwein, the head of offshore winds, is leaving the firm. This comes after the oil giant announced its intention to spin off its offshore operations into a JERA-JERA joint venture.

Bausenwein, who joined BP in August 2022 from the Danish renewables giant Orsted, will lead BP's expansion of offshore wind project.

Anja-Isabel Dotzenrath - a former CEO at RWE Renewables - left the company last April after less than two years on the job.

The spokesperson confirmed that Richard Sandford will be taking on the interim role of offshore wind. He also joined BP from RWE Renewables in 2022.

BP and JERA agreed to combine forces to create one of the largest offshore wind operators in the world. This is a significant step for CEO Murray Auchincloss to reduce BP’s focus on renewables.

In a joint statement, the two companies announced that their 50-50 joint venture, JERA Nex bp will combine operating assets and projects for a total potential generation capacity (GW) of 13 gigawatts.

The partners agreed to fund up to $5.8billion in projects by 2030. BP will contribute up to $3.25billion and JERA up to $2.55billion, as BP assets have not yet been developed. Reporting by Ron Bousso, Editing by Mark Potter

(source: Reuters)