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BP quits US offshore wind: ‘no viable path’ under Trump

BP's logo.Photo: Shutterstock/Jon Lyall

Posted on October 22, 2025

JERA Nex BP is ending activities in the US after concluding there “is no viable path for development” of its Beacon Wind offshore project.

The decision to shutter its American operations ends an adventure that began when oil giant BP entered the US offshore wind market to great fanfare in 2020 but has now been stopped in its tracks by Donald Trump’s hostile policies.

JERA Nex BP’s entire US team will leave the company in the next few months as it ends its operational presence there, said the company, the 50/50 offshore wind joint venture formed last year by BP and Japanese power group JERA.

“The US is a market with significant long-term potential for offshore wind, which we still believe can play a key role in the country’s energy transition. Unfortunately, in the present environment we see no viable path to the development of our Beacon wind project and have concluded that we cannot continue our investment in the market,” said the company.

Beacon Wind was previously under development off New York and Massachusetts by BP and Equinor, the Norwegian oil group that was BP’s original partner in US offshore wind. Beacon passed to BP and later JERA Nex BP when the two oil giants split their US offshore wind interests.

BP’s original entry to the US market came at the high point of renewables expansion undertaken by former BP CEO Bernard Looney, a trajectory since reversed by his successor Murray Auchincloss
BP’s American offshore wind journey was bumpy even before Donald Trump returned to the presidency.New York state energy regulator Nyserda awarded Beacon Wind 1 a power offtake contract for 1.2GW in the state’s Round 2 in 2019, although that deal was later cancelled after inflation rendered it unviable.

BP in 2023 booked a $540m impairment against its US offshore wind interests.
JERA Nex BP said it will retain the 2.5GW, 128,000-acre lease area south of Nantucket and east of Long Island “and wait for a more favourable moment to resume project development”.

Like most other US offshore wind projects – only the most advanced have even a fighting chance of completion – Beacon Wind now faces a lengthy wait to see if the skies for offshore wind lighten in a post-Trump era.

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