Schroders Greencoat has acquired a 50% interest in a 395MW U.S. solar portfolio owned by JERA Nex, marking a key step in its expansion into the North American renewables market, the companies said on Wednesday.
The portfolio includes two operational assets in the Midcontinent Independent System Operator (MISO) region: the 300MW Oxbow Solar Farm in Louisiana and the 95MW Happy Solar Farm in Arkansas. Both are supported by long-term power purchase agreements (PPAs).
Oxbow supplies electricity to corporate clients including eBay, while Happy Solar delivers renewable power to Conway Corp, the municipal utility serving Conway, Arkansas.
JERA Nex acquired both projects from Lightsource bp in 2024. Under the new ownership structure, existing arrangements for asset management and operations and maintenance will remain in place.
“This acquisition marks an important milestone for us as we build our portfolio of assets in the U.S. market,” said David Boyce, CEO of Schroders Greencoat North America. “We are delighted to be partnering with JERA Nex on these assets and are very much looking forward to a successful global partnership on future opportunities.”
The transaction adds to Schroders Greencoat’s global energy transition portfolio, which now stands at approximately 7GW of renewable capacity.
“Working together with like-minded partners is fundamental to our business and growth strategy,” said Richard Scott, vice president of global onshore construction and development at JERA Nex. “Schroders Greencoat’s global operational experience complements our own, and we have a shared vision for long-term ownership of renewable energy assets in the U.S. that sets us up for continued success.”
Nomura Greentech acted as exclusive financial advisor to JERA Nex on the transaction.
