JERA Nex Acquires Major US Solar Projects from Lightsource bp

JERA Nex, the global renewable energy division of JERA, has completed its first acquisition in the US solar market by purchasing two significant solar projects from Lightsource bp. The deal, which has passed all regulatory hurdles, marks JERA Nex’s initial foray into American solar assets and comprises the 300MW Oxbow solar farm in Louisiana and the 95MW Happy solar farm in Arkansas.

The acquisition includes the largest solar farm in Louisiana, Oxbow, and the Happy solar farm, both of which are currently operational. The Happy project has secured a long-term power purchase agreement (PPA) with Conway Corp, a city-owned utility in Conway, Arkansas, while Oxbow has entered into long-term PPAs with corporate clients, including eBay.

Richard Scott, Vice President for Development and Construction Onshore at JERA Nex, expressed enthusiasm about the acquisition: “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.” He praised Lightsource bp for their quality of work and expressed eagerness to collaborate with local communities and customers.

As part of the agreement, Lightsource bp will continue to manage asset operations and maintenance services for JERA Nex, ensuring a smooth transition and continued support for local communities and customers.

Emilie Wangerman, Chief Operating Officer of Lightsource bp US, emphasized the importance of finding a suitable partner: “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.”

John O’Brien, Chief Operating Officer of JERA Americas, commented on the collaborative effort: “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.”