JERA Nex, a renewable energy business that Japanese utility Jera Co Inc established earlier this year, has acquired a 395-MWac US portfolio containing two solar farms, marking its first move in the United States.
The company bought the 300-MW Oxbow solar farm in the state of Louisiana and the 95-MW Happy solar farm in Arkansas from UK-based solar developer Lightsource Bp, both parties announced on Wednesday.
The value of the deal was not disclosed.
Oxbow, said to be the largest solar farm in Louisiana, operates under long-term power purchase agreements (PPAs) with corporate off-takers including e-commerce giant eBay Inc. Happy is contracted by Conway Corp, the city-owned utility in Conway, Arkansas.
Going forward, Lightsource Bp will provide asset management and operations and maintenance service to JERA Nex.
“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”.
Comments