JERA Nex Makes First Foray into US Solar with 395MW of Farms
Despite only launching in April, JERA Nex has made its first move into the US solar market after acquiring two farms previously owned by Lightsource bp.
The Solar Energy Industries Association (SEIA) estimates that the US solar industry installed 11.8GWdc of capacity in the first quarter of 2024, the second-best quarter for the industry behind the last quarter of 2023.
JERA Nex is the global renewable energy arm of Japan's largest power generation company JERA.
This leap into the US solar space marks JERA Nex’s first foray and a significant step toward achieving its ambitious goal of developing 20GW of renewable energy assets by 2035.
JERA Nex breaks into the US solar market with acquisition of two farms
JERA Nex is now the proud owner of two solar farms formerly operated by Lightsource bp — the 300MW Oxbow solar farm in Louisiana — the largest in the state — and the 95MW Happy solar farm in Arkansas.
However, as part of the acquisition deal, 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.
“We are delighted to take our first step into the US solar market with the acquisition of these projects,” said Richard Scott, VP for Development and Construction Onshore at JERA Nex.
“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.
“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.”
A strategic move?
The transaction marks a critical milestone for JERA Nex as, by acquiring these assets from Lightsource bp, the company is not only expanding its footprint in the renewable energy sector but also strengthening its commitment to a sustainable energy future.
Emilie Wangerman, Chief Operating Officer of Lightsource bp US added: “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.
"Lightsource bp’s involvement in their operations through asset management services will further enable a seamless experience for our important project partners.”
John O’Brien, Chief Operating Officer of JERA Americas — JERA Co.’s Houston-based US subsidiary — agrees. He continued: “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.
“We will continue to work with JERA Nex and other partners to seek new renewable energy opportunities.”
What is JERA Nex?
A spin-off of Japan’s biggest power generation company JERA, JERA Nex launched in April as a dedicated renewables business focused on scaling up renewables globally.
The venture has the ambition of reaching 20GW of renewable capacity by 2035 and aims to do so by investing in, owning and operating onshore and offshore renewables assets including wind, solar and battery storage.
It operates out of its headquarters in London, where it is focusing on expanding its global operations and reach.
As the new kid on the block while still packing decades of experience, JERA Nex positions itself to navigate energy’s major trends and challenges.
One of the most significant challenges being faced now, and will continue to face, is delivering sustainable and safe energy that is also affordable.
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