NEW YORK, Nov. 30, 2022 /PRNewswire/ — D. E. Shaw Renewable Investments (DESRI), a number one renewable vitality producer within the U.S., at present introduced the signing of a long-term renewable vitality off-take settlement with Meta. The Lengthy Lake Venture (Lengthy Lake) can be a 200 megawatt (MWac) facility in Phillips County, Arkansas. DESRI has executed an influence buy settlement (PPA) with Meta to supply vitality and capability for its rising vitality wants within the area.
Lengthy Lake is DESRI’s first mission in Arkansas and among the many largest within the state. The mission contributes to DESRI’s rising photo voltaic portfolio with Meta, which additionally contains tasks in Utah and Virginia.
“DESRI is constant to construct out a portfolio of inexpensive, on-peak renewable vitality tasks to serve company and utility clients across the nation. We’re happy to companion with Meta on the Lengthy Lake mission and now depend greater than 850MWac of fresh vitality nationwide to assist their operations,” mentioned Hy Martin, Chief Improvement Officer of DESRI. “We recognize the continuing group assist of Phillips County and are happy to develop this photo voltaic facility to satisfy Meta’s renewable vitality demand, whereas offering financial alternatives.”
“We recognize DESRI’s partnership in serving to us carry new renewable vitality to the grid in assist of our operations,” mentioned Urvi Parekh, Head of Renewable Power at Meta. “This mission is a crucial a part of serving to us proceed to satisfy our objective of 100% renewable vitality as we develop.”
Lengthy Lake is predicted to ship vital group advantages, together with the creation of development jobs and different native financial growth. DESRI would be the mission’s long-term proprietor and operator.
Preliminary growth of Lengthy Lake was led by Acadian Renewable Power (Acadian), a three way partnership between SunChase Energy and Eolian, L.P. “Eolian and SunChase shaped Acadian in 2015, anticipating the rising want for low-cost photo voltaic vitality in Arkansas and the bigger MISO energy market that can immediately scale back the passthrough gas prices from typical thermal mills whereas concurrently producing precious vitality through the highest-demand, hottest summer time afternoons,” acknowledged Aaron Zubaty, CEO of Eolian.
Heather Otten, SunChase Energy principal, added “We’re excited to work with DESRI once more and to assist repurpose transmission services initially constructed for fossil gas technology to modernize and decarbonize the Arkansas electrical energy grid.”
About D. E. Shaw Renewable Investments
D. E. Shaw Renewable Investments (DESRI) and its associates develop, purchase, personal, and function long-term contracted renewable vitality property within the U.S. DESRI’s portfolio of contracted, working, and in-construction renewable vitality tasks presently contains greater than 65 photo voltaic and wind tasks representing greater than 6 gigawatts of combination capability. DESRI is a member of the D. E. Shaw group, a world funding and know-how growth agency with greater than $60 billion in funding and dedicated capital as of September 1, 2022, and places of work in North America, Europe, and Asia. Please go to www.desri.com for extra details about DESRI.
SOURCE D. E. Shaw Renewable Investments