D. E. Shaw Renewable Investments (DESRI) has announced the commencement of commercial operations at its 80-megawatt alternating current (MWac) Elektron Solar plant located in Tooele County, Utah.
The achievement of the commercial operation date (COD) signifies the culmination of a lengthy journey for the Elektron Solar project. Acquired by DESRI from Enyo Renewable Energy in 2020, construction on the project commenced in 2021.
Hy Martin, Chief Development Officer of DESRI, attributed the success of the project to collaborative efforts, stating, “While the solar industry has encountered headwinds in the past few years due to supply chain constraints and rising interest rates, this project was able to succeed due to the strong partnership from our customers and local stakeholders.”
Financing for the construction of Elektron Solar was provided by NORD/LB, National Bank of Canada, and City National Bank, with tax equity investment facilitated by an affiliate of Goldman Sachs & Co.
SOLV Energy was entrusted with the engineering, procurement, and construction of the solar facility, and will also provide operations and maintenance services.
With the plant now operational, Elektron Solar is set to generate electricity under 20- and 25-year power purchase agreements (PPAs) with utility group PacifiCorp through its subsidiary Rocky Mountain Power, serving Utah.
