JERA Nex BP is pulling out of the New Zealand offshore wind sector, the developer has confirmed.
“JERA Nex bp is not proceeding with development of offshore wind in New Zealand and will stop our activities in the country at the end of 2025,” the company said in a statement.
A spokesperson added: “We’d like to thank iwi for their commitment to working with us, our local partner Meridian Energy, successive governments as well as many different local and national stakeholders for the positive working relationships in Aotearoa.”
The joint venture had been developing plans for a wind farm off the coast of South Taranaki.
In its own statement the New Zealand Wind Energy Association said: “The decision to cease its activities at the end of 2025 is disappointing, but it is not a reflection of our abundant offshore wind resource or its long-term commercial potential.”
“This decision – following the recent exits of other international offshore wind developers – highlights the complex challenges facing offshore wind development, both here and internationally,” the trade association added.