Lightsource bp sells 395MW of US solar PV to JERA Nex

Facebook
Twitter
LinkedIn
Reddit
Email
The 90MW Happy Solar project in Arkansas, developed by Lightsource bp. Image: JERA Nex

Solar project developer Lightsource bp has sold two US PV projects to Japanese-owned renewable energy asset owner JERA Nex.

The 300MW Oxbow solar farm in Louisiana and the 95MW Happy solar farm in Arkansas changed hands for an undisclosed sum. Both projects are already in commercial operation and contracted under power purchase agreements (PPA) with corporate giants McDonald’s and eBay and the Conway, Arkansas power utility Conway Corp, respectively.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Under the agreement, Lightsource bp will continue to provide asset management and operations & maintenance (O&M) services to the sites.

This is JERA Nex’s first foray into the US solar market and was executed in partnership with JERA Americas. Both companies are subsidiaries of Japanese power generation company JERA, which was created through a consolidation of different departments of two Japanese utilities, the Tokyo Electric Power Company and the Chubu Electric Power Company.

JERA invests in fossil fuels, energy storage, and renewable energy generation technologies. JERA Nex is the company’s renewable energy arm.

In December 2023, British oil giant bp took full ownership of Lightsource bp by acquiring the outstanding 50.03% stake it did not already own.

John O’Brien, COO of JERA Americas said: “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.”

Lightsource bp closed financing in March for another 180MW PV project in Louisiana. The Prairie Ronde project benefited from a US$140 million tax equity deal with British bank Barclays; it is expected online by the end of 2024. As with the Oxbow project bought by JERA Nex, Prairie Ronde is contracted under a PPA with McDonald’s, signed in February 2023.

The developer is also building two utility-scale PV projects in Texas – the 168MW Starr solar project and the 125MW Second Division project. In February, Lightsource bp closed a US$348 million financing package to support the construction of these projects, which included the tax credit transferability facility under the Inflation Reduction Act (IRA).

A report from US sustainable finance company Crux last week showed that the IRA transferability market had reached a total of US$11 billion in the first half of 2024.  

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 13, 2025
Two Chinese state-owned energy enterprises have signed cooperation agreements on PV and wind power projects with Saudi companies, with the total contract value exceeding RMB30 billion (US$4.2 billion). 
October 13, 2025
Grenergy has begun construction on a 340MW solar project with 960MWh of energy storage in El Cabrero, located in Chile’s Biobío region. 
October 13, 2025
ANSI has approved a new traceability standard proposed by the SEIA to improve transparency of the solar and storage supply chain.
October 13, 2025
US solar manufacturer T1 Energy has acquired a minority stake in fellow US-based solar cell producer Talon PV.
Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK