---
title: "Germany’s EnBW Withdraws from UK Offshore Wind Projects with BP"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2026-01-16T08:50:00+00:00"
modified: "2026-01-16T08:50:00+00:00"
date: 2026-01-16
canonical: "https://stockmark.it/germanys-enbw-withdraws-from-uk-offshore-wind-projects-with-bp/"
category: "Energy"
categories: ["Energy", "Financial", "Renewable Energy"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2023-12-13T050607.905.jpg?fit=1200%2C800&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Germany’s EnBW Withdraws from UK Offshore Wind Projects with BP

**Published:** January 16, 2026
**Author:** Stockmark.IT Website
**Categories:** Energy, Financial, Renewable Energy
**Featured image:** ![A row of offshore wind turbines stands in calm blue water under a clear sky, generating renewable energy as part of a subsea project. A ship is visible in the distance on the left side of the image. @ stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/stencil.default-2023-12-13T050607.905.jpg?fit=1200%2C800&quality=89&ssl=1)

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Germany’s EnBW has announced its decision to withdraw from the offshore wind projects Morgan and Mona in the Irish Sea. This decision comes in the wake of difficulties in securing subsidy contracts from the government following a recent auction.

The two projects, which were expected to deliver a combined capacity of 3 gigawatts, saw BP and EnBW jointly purchase seabed leases in 2021. At that time, they committed to paying a record price to the Crown Estate, marking BP’s initial venture into the UK’s offshore wind sector. This strategic move had been part of BP’s broader approach towards green energy, initiated under the leadership of former CEO Bernard Looney.

However, after Looney’s departure over controversies surrounding his tenure, the strategy has faced scrutiny. Murray Auchincloss, Looney’s successor, has reversed significant components of the green strategy, refocusing the company’s efforts on oil and gas. This shift has also led to the establishment of a joint venture with Japan’s JERA, named JERA Nex BP.

A representative for JERA Nex BP stated their belief in the viability of the remaining UK portfolio and announced that they are evaluating options to move the projects forward, despite EnBW’s withdrawal. EnBW’s exit is accompanied by a €1.2 billion impairment charge as the company has reported substantial financial losses associated with these initiatives.

BP recently projected potential impairments on its “equity-accounted entities” in the energy transition business, estimating a financial impact of USD 4 billion to USD 5 billion. Analysts speculate that this could include write-downs related to other acquisitions made during Looney’s leadership.

The Morgan and Mona projects, which received planning consent in the summer, are designed to feature up to 96 turbines each, generating 1.5 gigawatts of power. The high costs associated with seabed leases, amounting to £462 million annually, have raised concerns regarding the economic viability of these projects.

Despite EnBW’s withdrawal, the UK government has announced substantial subsidies for other wind farm developers. Successful bidders from the recent subsidy auction could receive bonus payments topping £204 million over a four-year period, underpinning commitments to enhance the UK supply chain.

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