JERA Nex, the global renewable energy business subsidiary of Japan’s largest power company, has announced the acquisition of its first two solar projects in the U.S. The projects, with a total capacity of 395MW, were acquired from Lightsource BP and are already in commercial operation. The Oxbow solar farm in Louisiana, with a capacity of 300MW, is the largest in the state, while the Happy solar farm in Arkansas has a capacity of 95MW. Both projects have long-term power purchase agreements in place with local utility companies and corporate customers.
This acquisition marks the first transaction by JERA Nex since its launch in April. The agreement includes Lightsource BP continuing to provide asset management, as well as operation and maintenance services to JERA Nex. Both companies have emphasized the importance of working closely with local communities and customers to ensure a smooth transition and delivery of clean and sustainable energy. The sale of these solar projects comes as part of BP’s decision to readjust its renewable energy portfolio, focusing more on traditional energy operations.
Richard Scott, Vice President for Development and Construction Onshore at JERA Nex, expressed his excitement about entering the U.S. solar market and the company’s ambitious plans to scale up renewable energy projects for a sustainable future. John O’Brien, Chief Operating Officer of JERA Americas, the company’s U.S. subsidiary, highlighted the collaboration with Lightsource BP well before the launch of JERA Nex to further global net zero ambitions. The company aims to work with partners to seek new renewable energy opportunities and expand its onshore and offshore renewables portfolio both in the U.S. and globally.
JERA Nex currently owns, operates, and has investments in an expanding global portfolio of renewable energy assets with a capacity of over 3GW. This includes offshore wind, onshore wind, and solar assets, as well as battery storage. The acquisition of Belgium’s largest offshore wind platform Parkwind in July 2023 further strengthened JERA Nex’s position in the renewable energy market. Market expectations are high for further moves by JERA Nex in the renewable energy space as the company continues to grow and expand its clean energy portfolio.
Overall, the acquisition of the solar projects in the U.S. is a significant step for JERA Nex in its mission to contribute to a sustainable future through the development of renewable energy projects. With a focus on collaboration, community engagement, and delivering clean energy solutions, JERA Nex is well-positioned to continue expanding its presence in the global renewable energy market and driving the transition to a cleaner, more sustainable energy future.
