D. E. Shaw Renewable Investments (DESRI) has completed a $129 million preferred equity investment in a 250-megawatt (MWac) utility-scale solar development consisting of two projects in West Texas, the company announced Tuesday.
“DESRI is excited to support the construction of a leading U.S. Independent Power Producer’s projects, which will serve new industrial load in the area,” said Peter Koczanski, Director at DESRI. “This investment demonstrates DESRI’s capabilities as a capital solutions provider for renewable energy assets.”
Koczanski added that DESRI’s extensive industry experience — having successfully constructed more than eight gigawatts of renewable projects — allows the firm to “move quickly and use our capabilities to provide added value to the assets in which we invest.”
The company said the new investment underscores its strategy to expand its renewable energy portfolio and strengthen partnerships across the U.S. clean energy sector. King & Spalding LLP served as legal advisor to DESRI on the transaction.
