The European Commission has approved the creation of a joint venture (JV) between BP Gamma, a unit of UK oil major BP Plc (<a href="https://www.londonstockexchange.com/stock/BP./bp-plc/company-page" target="_blank">LON:BP</a>), and JERA Nex, the renewables arm of Japan’s JERA Co Inc, for the development of offshore wind projects.