JERA Nex, the global renewable energy branch of JERA, has successfully completed its first major acquisition, marking a significant milestone since its launch in April.
The company has acquired two US solar projects from Lightsource bp, a prominent global player in solar energy and energy storage development.
The projects, with a combined capacity of 395 MW AC, include the 300 MW Oxbow solar farm in Louisiana—the largest solar farm in the state—and the 95 MW Happy solar farm in Arkansas.
This acquisition brings the first US solar assets into JERA Nex’s portfolio, expanding its footprint in the renewable energy sector.
Regulatory Approvals and Operational Status
The acquisition, which has received all necessary regulatory approvals, signifies JERA Nex’s entry into the US solar market.
Both solar farms are already operational and supplying renewable energy to their respective customers.
The Happy solar farm, located in Arkansas, operates under a long-term power purchase agreement (PPA) with Conway Corp., the city-owned utility system in Conway.
Meanwhile, the Oxbow solar farm in Louisiana has secured long-term PPAs with corporate clients, including the e-commerce giant eBay.
Strategic Importance and Future Ambitions
Richard Scott, Vice President for Development and Construction Onshore at JERA Nex, expressed his enthusiasm about the acquisition, highlighting its importance as a first step in the US solar market.
He noted that this transaction reflects JERA Nex’s ambitious plans to expand its onshore and offshore renewable energy portfolio, both in the US and globally.
Scott also praised Lightsource bp for its strong track record in delivering high-quality solar farms, emphasizing the strategic value of acquiring well-developed projects like Oxbow and Happy.
JERA Nex aims to collaborate with local communities and customers to continue providing clean and sustainable energy in the coming years.
Partnership with Lightsource bp
As part of the acquisition agreement, Lightsource bp will continue to provide asset management and operations and maintenance (O&M) services for the acquired projects.
This arrangement ensures a seamless transition for the local communities and customers, maintaining continuity in the operation of the solar farms.
Emilie Wangerman, Chief Operating Officer of Lightsource bp US, emphasized the importance of finding a reliable and like-minded partner for projects integral to the local community.
She expressed confidence that the solar farms would continue to thrive under JERA Nex’s stewardship, with Lightsource bp’s ongoing involvement further ensuring a smooth operational experience.
JERA’s Commitment to Renewable Energy
John O’Brien, Chief Operating Officer of JERA Americas, the Houston-based US subsidiary of JERA Co., highlighted the collaborative efforts with Lightsource bp that began last year, aiming to support JERA’s net-zero ambitions.
He expressed satisfaction with the successful conclusion of the transaction and reiterated JERA’s commitment to seeking new renewable energy opportunities in partnership with JERA Nex and other stakeholders.
This acquisition underscores JERA’s dedication to expanding its renewable energy portfolio and advancing its goal of achieving a sustainable future.