DESRI acquires 300-MW solar project with 150 MW storage in New Mexico
Nextracker NX Horizon
September 20 (Renewables Now) - US renewable energy asset owner D E Shaw Renewable Investments (DESRI) has completed the acquisition of the Arroyo project which combines 300 MW of solar with 150 MW/600 MWh of battery energy storage, it said on Monday.
The project is located in McKinley County, New Mexico and was acquired from Centaurus Renewable Energy, its original developer.
DESRI has also closed debt financing for the facility, whose first phase is expected to start operations in June 2022.
Arroyo will deliver its solar and storage output to Public Service Company of New Mexico (PNM).
The project will feature Nextracker trackers and Tesla Megapacks. The solar array will be built by Sundt Construction Inc, while Affordable Solar Installation Inc is responsible for the construction of the battery energy storage system.
Nord/LB led financing for the acquisition and construction of the project, with MUFG Union Bank NA, Sumitomo Mitsui Banking Corp, National Bank of Canada and Societe Generale acting as additional joint lead arrangers.