Japan's JERA Nex acquires US solar projects from Lightsource bp

JERA Nex, JERA’s global renewable energy business, has acquired two US solar projects totaling 395MW from Lightsource bp.

The transaction is the first made by Japan's JERA Nex since its launch in April and also marks the company's first US solar assets in its portfolio.

The assets include the 300MW Oxbow solar farm in Louisiana, touted as the largest in the state, and the 95MW Happy solar farm in Arkansas.

Both projects are in commercial operation. The Happy project has a long-term power purchase agreement (PPA) with Conway Corp, the city-owned utility system in Conway, Ark and Oxbow has long-term PPA agreements with corporate customers including eBay.

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“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,” said Richard Scott, VP for Development and Construction Onshore at JERA Nex.

As part of the agreement, Lightsource bp will continue to provide asset management and O&M services to JERA Nex, ensuring continuity and a smooth transition for stakeholders.

Emilie Wangerman, chief operating officer of Lightsource bp US, commented in a statement: “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.”

“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,” said John O’Brien, chief operating officer of JERA Americas, JERA Co.’s Houston-based US subsidiary.