JERA Nex and JERA Americas Enter US Solar Market with Major Acquisitions

JERA Nex and JERA Americas Enter US Solar Market with Major Acquisitions

(IN BRIEF) JERA Nex and JERA Americas have entered the US solar market by acquiring two solar projects, totaling 395MW AC, from Lightsource bp. The projects, located in Arkansas and Louisiana, are now operational and will provide renewable energy under long-term agreements with entities like Conway Corp, McDonald’s, and eBay. This acquisition is part of JERA Nex’s strategy to expand its renewable energy portfolio to 20GW by 2035, emphasizing sustainable growth and community partnership.

(PRESS RELEASE) LONDON, 7-Aug-2024 — /EuropaWire/ — JERA Nex, in collaboration with JERA Americas, has made its initial entry into the US solar market by acquiring two solar projects in Arkansas and Louisiana. This development underscores the significance of onshore renewable assets in JERA Nex’s expanding portfolio, aiming to reach 20GW by 2035.

JERA Nex, the global renewable energy arm of JERA, has acquired 395MW AC of solar capacity from Lightsource bp, a global leader in solar energy and energy storage project development. This acquisition includes the 300MW Oxbow solar farm in Louisiana, the largest in the state, and the 95MW Happy solar farm in Arkansas. Both projects are now operational and supplying renewable energy to their customers.

The Happy project has a long-term power purchase agreement (PPA) with Conway Corp, the municipal utility system in Conway, Arkansas. The Oxbow project holds long-term PPAs with McDonald’s and eBay. Lightsource bp played a crucial role in the development of these sites, working closely with local communities.

Richard Scott, VP for Development and Construction Onshore at JERA Nex, expressed his enthusiasm for the new ventures: “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. 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.”

Lightsource bp will continue to manage the assets and provide operations and maintenance (O&M) services to ensure a smooth transition and ongoing support for local communities and customers.

Emilie Wangerman, Chief Operating Officer of Lightsource bp US, emphasized the importance of partnering with JERA Nex: “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, highlighted the collaborative effort: “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.”

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 .

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email: info@lightsourcebp.com
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SOURCE: Lightsource bp