JERA Nex, a renewable energy company founded earlier this year by Japanese utility Jera Co Inc has made its first foray into the U.S. market by acquiring a 395-MWac portfolio of two solar farms from Lightsource bp.
JERA Nex Expands U.S. Solar Portfolio
The transaction marks JERA Nex's inaugural acquisition since its April launch. It adds its first US solar assets to its portfolio: the 300 MW Oxbow solar farm in Louisiana, the largest in the state and the 95 MW Happy solar farm in Arkansas. Lightsource bp collaborated extensively with local communities to develop these sites.
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Both projects are operational and supplying renewable energy. The Happy project has a long-term power purchase agreement (PPA) with Conway Corp, the city-owned utility in Conway, Arkansas while Oxbow has PPAs with corporate customers including eBay.
“We are delighted to take our first step into the US solar market with the acquisition of these projects. This first transaction since our recent launch is an indication of our ambitious plans to scale onshore and offshore renewables for a sustainable future; we hope to build a broader onshore renewables portfolio in the US and globally. Lightsource bp has an excellent reputation for delivering high-quality solar farms and that is exactly what we have acquired with Oxbow and Happy. We look forward to working with the local communities and customers to provide clean and sustainable energy in the years to come.” said Richard Scott, VP for Development and Construction Onshore at JERA Nex.
Lightsource bp to Maintain Services for JERA Nex
Going forward, Lightsource bp will maintain asset management and O&M services for JERA Nex ensuring a seamless transition and continued support for the local community and customers.
“It was very important to Lightsource bp to find a reliable and like-minded partner for projects that are integral to the local community. We are proud of the successful development of these solar farms and confident that they will continue to thrive under the stewardship of JERA Nex. Lightsource bp’s involvement in their operations through asset management services will further enable a seamless experience for our important project partners.” said Emilie Wangerman, Chief Operating Officer of Lightsource bp US.
“The team at JERA Americas began working with Lightsource bp last year to help drive JERA’s net zero ambition and we are delighted to have brought this transaction to a successful conclusion. We will continue to work with JERA Nex and other partners to seek new renewable energy opportunities.” said John O’Brien, Chief Operating Officer of JERA Americas, JERA Co.’s Houston-based US subsidiary.
Partnerships’ Commitment to Renewable Solutions
JERA Nex is a company established by JERA to scale renewable energy for a sustainable future. By merging JERA's strength as one of the world’s largest electricity producers with the agility of a dedicated renewables-focused business, JERA Nex is positioned to drive the global energy transition effectively.
The company invests in, owns and operates a diverse global portfolio of renewable energy assets exceeding 3 GW including offshore wind, onshore wind, solar and battery storage with Parkwind as its wholly-owned subsidiary. JERA Nex employs over 300 experts in renewable and energy industries, blending global expertise with local knowledge to ensure the successful delivery of its projects.
Lightsource bp is a leading global player in solar energy development and management as well as energy storage. Over the past decade, the company has provided affordable, safe and sustainable energy solutions to businesses and communities worldwide. With a team of over 1,200 experts across 19 regions, Lightsource bp handles the full spectrum of project development including site selection, financing, permitting and long-term management of solar projects and energy sales.
Since 2019, Lightsource bp has either launched or begun construction on more than 3.2 gigawatts of solar projects in 11 U.S. states with capital expenditures approaching $4 billion. The partnership between Lightsource and bp began in 2017 and bp has recently announced plans to fully acquire Lightsource bp which is currently a 50/50 joint venture with bp.