Schroders Greencoat has acquired a 50% stake in JERA Nex’s 395MW solar portfolio in the US, comprising the 300MW Oxbow Solar Farm in Louisiana and the 95MW Happy Solar Farm in Arkansas.
The assets are operational in the MISO region and are backed by long-term power purchase agreements.
Oxbow supplies corporate customers including eBay, while Happy delivers clean power to Conway Corp, the municipal utility serving Conway, Arkansas.
JERA Nex acquired both projects from Lightsource bp in 2024.
Asset management and operations and maintenance support will remain in place under the new ownership structure.
Schroders Greencoat said the deal marks a significant step in its US market expansion and adds to its global energy transition portfolio of around 7GW.
David Boyce, CEO of Schroders Greencoat North America, said: “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.
“This acquisition marks an important milestone for us as we build our portfolio of assets in the US market.”
Richard Scott, VP Global Onshore Construction & Development at JERA Nex, said: “Working together with like-minded partners is fundamental to our business and growth strategy.
“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 US that sets us up for continued success.”
Nomura Greentech acted as exclusive financial advisor to JERA Nex.