Schroders Greencoat acquires a 50% stake in JERA Nex’s 395MW US solar portfolio

Schroders Greencoat, the specialist energy transition manager of Schroders Capital, and JERA Nex, the global renewable energy developer, are pleased to announce that Schroders Greencoat has taken a 50% stake in JERA Nex’s US solar portfolio. The portfolio is comprised of the 300MW Oxbow Solar Farm, the largest in the state of Louisiana, and the 95MW Happy Solar Farm in Arkansas.

Both projects are in commercial operation in the Midcontinent Independent System Operator (MISO) region and benefit from long-term power purchase agreements (PPAs). Oxbow Solar Farm provides renewable energy to corporate customers, including eBay, and Happy Solar Farm provides clean power to Conway Corp, the city-owned utility system in Conway, Arkansas. JERA Nex acquired both projects from Lightsource bp last year. Schroders Greencoat’s experience across its extensive portfolio of renewables and energy transition investments, with about 7GW installed capacity across multiple technologies in Europe, the UK, the US and Asia, will complement JERA Nex’s capabilities and ensure the projects continue to be operated as safely and efficiently as possible. Current Asset Management and O&M support on both projects will remain in place. 

Nomura Greentech acted as exclusive financial advisor to JERA Nex.