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Renewable energy company JERA Nex announced the acquisition of two U.S. solar projects, totaling 395MW […]]
JERA Nex Enters U.S. Solar Market with 395 MW Acquisition – ESG Today
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JERA Nex Enters U.S. Solar Market with 395 MW Acquisition
Susan Lahey
August 8, 2024
Renewable energy company JERA Nex announced the acquisition of two U.S. solar projects, totaling 395MW from Lightsource bp, marking the new company’s entry into the U.S. solar market.
JERA Nex was launched in April by Japan’s largest power generation company, JERA, with a mandate to develop, invest, own and operate renewable energy assets, including offshore and onshore wind and solar, as well as battery storage. The announcement marks the company’s first acquisition to date.
The two sites are the 300MW Oxbow solar farm in Louisiana, the largest in the state, and the 95MW Happy solar farm in Arkansas. The Happy project has a long-term power purchase agreement (PPA) with Conway Corp, the city-owned utility system in Conway, Ark. Oxbow has long-term PPAs with corporate customers including eBay.
JERA Nex said the acquisition will further JERA’s ambition to develop 20GW of renewable capacity by 2035.
Richard Scott, VP for Development and Construction Onshore at JERA Nex, said:
“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.”
As part of the agreement, Lightsource bp will continue to provide asset management and operations and maintenance services to the solar farms.
Emilie Wangerman, Chief Operating Officer of Lightsource bp U.S., said:
“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.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
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