JERA Nex BP Ltd is acquiring co-venturer EnBW Energie Baden-Württemberg AG’s (EnBW) stake in the Mona wind project in United Kingdom waters, while the partners dropped the Morgan offshore wind project.
Planned to rise in the Irish Sea, the two projects had a potential combined capacity of three gigawatts (GW). Only up to half of that would be pursued under the joint venture between Japanese utility JERA Co Inc and British energy giant BP PLC through Mona, according to separate online statements by JERA Nex BP and German utility EnBW.
EnBW said it no longer wanted to proceed with Mona and Morgan after the projects failed to win government support through contracts for difference in the recently completed allocation round held by the UK’s Energy Security and Net Zero Department.
“At the same time, offshore wind energy remains an important business field for EnBW as it expands renewable energy capacity”, EnBW said. “By 2030, the installed output from renewable energies is set to be further expanded from the current figure of approximately seven GW to at least 10-11.5 GW.
“The current focus is on completing the construction and commissioning of the 960-MW He Dreiht offshore wind farm in the German North Sea this summer. Furthermore, EnBW is developing its 1,000-MW Dreekant project in the German North Sea”.
An earlier EnBW statement said that besides the failed bids for contracts for difference, other factors that rendered the projects “no longer economically viable as per EnBW’s standards” included “significant cost increases across the supply chain, higher interest rates and ongoing project implementation risks”.
“EnBW is in the midst of the largest investment program in its corporate history”, EnBW said in the earlier statement. “The company plans to invest up to EUR 50 billion [$58.62 billion] by 2030. Due to the wide range of investment opportunities, EnBW pursues a consistently value-oriented approach”.
EnBW expects to book EUR 1.2 billion in impairments in its 2025 annual report due to the withdrawals. “The extraordinary write-down is outside the scope of adjusted EBITDA and has no cash effect”, the earlier statement said. “EnBW’s forecast range for adjusted EBITDA of EUR 4.8 to 5.3 billion for the financial year 2025 therefore remains unchanged”.
Concurrently JERA Nex BP signed a lease agreement with The Crown Estate for Mona, bringing the project nearer to a final investment decision, JERA Nex BP said.
“Amid current market conditions, JERA Nex BP has decided not to proceed with the Agreement for Lease for the Morgan offshore wind project”, it said. “JERA Nex BP and EnBW will work with stakeholders to manage the implications of this decision and conclude project activities carefully and respectfully”.
A third UK wind project between EnBW and JERA Nex BP, the 3-GW Morven offshore Scotland, remains in the works, EnBW said.
According to the latest update on the project website, published November 25, 2025, Morven was at the public consultation stage.
To contact the author, email jov.onsat@rigzone.com
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