JERA Nex, the renewable energy subsidiary of Japan’s largest electric utility JERA, has announced a major expansion of its operating footprint in the United States.
The company announced Tuesday that it has acquired its first two solar projects in the United States with a total capacity of 395 MW from Lightsource BP. They include the 300 MW Oxbow solar farm in Louisiana, the largest in the state, and the 95 MW Happy Solar Farm in Arkansas.
This is the first transaction completed through JERA Nex since the release of the London-based subsidiary in April. The two signatories of the agreement said Lightsource BP had “worked intensively with communities” in both US states to expand the sites.
The projects are already operational and offer renewable existing power purchase agreements (PPAs).
Project Happy has a long-term PPA with Conway Corp, the application formula owned by the city of Conway, Arkansas, while Project Oxbow also has long-term PPA with corporate clients, adding auctions and eBay online store.
As part of the agreement, Lightsource BP will continue to supply asset control as well as operations and maintenance to JERA Nex, ensuring “continuity and a smooth transition for the local grid and customers,” the corporations said.
The Happy Solar Farm in Arkansas, United States
The sale follows resolution through Lightsource’s parent energy giant BP, BP (LON: BP), to realign its renewable energy portfolio and classic power core operations. But the transaction, which has already secured all mandatory U. S. regulatory approvals, has been approved by the U. S. The U. S. Nex represents a significant resolution for JERA Nex.
“We are excited to take our first steps into the U. S. solar market. “with the acquisition of these projects. This first transaction since our launch is an indication of our ambitious plans to expand onshore and offshore renewable energy for a sustainable future. We look forward to building a broader portfolio of onshore renewables in the United States and around the world,” said Richard Scott, vice president of onshore development and construction at JERA Nex.
“Lightsource BP has a fair reputation for delivering high-quality solar farms and that’s precisely what it won with Oxbow and Happy. We look forward to collaborating with local communities and consumers to deliver white, sustainable energy in the years to come. “aggregate.
John O’Brien, chief operating officer of JERA Americas, the company’s Houston-based U. S. subsidiary, revealed that his team began working with Lightsource BP last year, well before the launch of JERA Nex, to help them pursue their global net-zero ambitions.
“We are very pleased to have effectively completed this transaction. We will continue to work with JERA Nex and its partners to pursue new opportunities in renewable energy,” he added.
There are broader expectations in the market for further advancements in renewable energy from JERA Nex, which currently owns, operates and invests in an expanding portfolio of renewable energy assets with a capacity of over 3 GW.
This figure includes offshore, onshore and solar wind assets, as well as a battery garage and the full capacity of Belgium’s largest offshore wind platform, Parkwind, which it acquired through parent company JERA in July 2023.
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