The Japanese conglomerate exits three projects, boosting JERA Nex BP’s ownership in Northwester 2 to 100% and Nobelwind to 80.1%.
Sumitomo Corp will divest its equity stakes in three Belgian offshore wind projects, reallocating capital as part of a broader strategic shift. The sales include a 30% share in Northwester 2 and a 39.02% stake in Nobelwind to JERA Nex BP, alongside a separate deal with Publiwind for the Northwind project.
Northwester 2, operational since 2020, has an installed capacity of 219MW, while Nobelwind, launched in 2017, contributes 165MW. The transactions will elevate JERA Nex BP’s ownership in Northwester 2 to full control and increase its Nobelwind stake to 80.1%. Regulatory approval is pending for the Northwind sale, expected to close in fiscal 2026.
JERA Nex BP, which operates both projects from Belgium, emphasized the deal aligns with its focus on long-term ownership of competitive offshore wind assets. The move reflects Sumitomo’s pivot toward higher-priority investments.