- JERA Nex, in partnership with JERA Americas, makes its first foray into the US solar market with the acquisition of Arkansas and Louisiana assets. - The acquisition includes two solar projects totaling 395MW AC from Lightsource bp. - The 300MW Oxbow solar farm in Louisiana and the 95MW Happy solar farm in Arkansas are the first US solar assets in JERA Nex's portfolio. - Both projects are operational and provide renewable energy, with long-term power purchase agreements in place. - JERA Nex aims to expand its onshore and offshore renewable portfolio to meet its target of 20GW by 2035. - Richard Scott, VP for Development and Construction Onshore at JERA Nex, expressed the company's ambition to scale renewables. - Lightsource bp will continue to manage the assets and provide operational support to ensure a smooth transition. - Emilie Wangerman, COO of Lightsource bp US, highlighted the importance of finding a reliable partner for community-integrated projects. - John O’Brien, COO of JERA Americas, emphasized ongoing collaboration with partners to seek new renewable energy opportunities. - JERA Nex combines the strengths of one of the world's largest electricity producers with a focus on renewable energy development. - The company owns a global portfolio of renewable assets exceeding 3GW, including offshore wind, onshore wind, and solar projects. - Lightsource bp has been a leader in solar energy development, contributing significantly to the renewable energy sector in the US.

JERA Nex Expands Presence in US with 395MW Solar Farms Acquisition From Lightsource bp:

• JERA Nex, in partnership with JERA Americas, makes first foray into US solar with Arkansas and Louisiana assets.
• Development signals importance of onshore renewable assets in JERA Nex’s growing portfolio and their role in reaching 20GW by 2035.

August 07, 2024 09:00 AM Eastern Daylight Time

LONDON--(BUSINESS WIRE)--JERA Nex, JERA’s global renewable energy business, has acquired two US solar projects totaling 395MW AC from Lightsource bp, a global leader in the development and management of solar energy and energy storage projects.

The transaction, which has received all regulatory approvals, is the first made by JERA Nex since its launch in April and brings the first US solar assets in its portfolio: the 300MW Oxbow solar farm in Louisiana, the largest in the state, and the 95MW Happy solar farm in Arkansas. Lightsource bp worked closely with local communities to develop both sites.

Both projects are in commercial operation and delivering renewable energy to their customers: 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 PPA agreements with corporate customers including eBay.

“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. “Lightsource bp has an excellent reputation for delivering high quality solar farms and that is exactly what we have acquired with Oxbow and Happy. We look forward to working with the local communities and customers to provide clean and sustainable energy in the years to come.”

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 the local community and customers.

“It was very important to Lightsource bp to find a reliable and like-minded partner for projects that are integral to the local community,” said Emilie Wangerman, Chief Operating Officer of Lightsource bp US. “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.”

“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. “We will continue to work with JERA Nex and other partners to seek new renewable energy opportunities.”

About JERA Nex

JERA Nex is a company created by JERA to scale renewable energy for a sustainable future. JERA Nex combines the resilience of JERA, one of the world’s largest electricity producers, with the agility and focus of a dedicated renewables business that can act at the pace required to drive the global energy transition.

JERA Nex invests in, currently owns and operates a global portfolio of renewable energy assets, with a portfolio over 3GW that includes offshore wind, onshore wind and solar, as well as battery storage. This includes Parkwind, its wholly owned subsidiary. Headquartered in London, and with centres of excellence in Belgium, Japan, Taiwan and the US, our team of more than 300 renewable and energy industry experts combines global knowhow and experience with the local expertise and knowledge necessary to deliver successful projects.

Find out more at www.jeranex.com and follow us on LinkedIn.

About Lightsource bp

Lightsource bp is a global leader in the development and management of solar energy and energy storage. For more than a decade, Lightsource bp has delivered affordable, safe and sustainable energy to businesses and communities around the world. Their team includes more than 1,200 industry experts, working in 19 global regions, providing full scope development for projects, from initial site selection, financing and permitting to long-term management of solar projects and energy sales to their customers.

Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Austin and Philadelphia. Since 2019, the team has brought into operation or initiated construction on more than 3.2 gigawatts of U.S solar projects across 11 states in America with capital costs of nearly $4 billion. Lightsource and bp first entered into partnership in 2017. Most recently, bp has announced the intention to fully acquire Lightsource bp, which currently operates as a 50/50 joint venture with bp. For more information visit www.lightsourcebp.com/us.

Contacts

communications@jeranex.com