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DESRI buys 180 MW of First Solar projects in Utah

Solar plant. Photo by: First Solar (www.firstsolar.com)

October 23 (Renewables Now) - D.E. Shaw Renewable Investments (DESRI) has acquired the Cove Mountain and Cove Mountain 2 projects in Utah, with a combined capacity of 180 MW, from First Solar Inc (NASDAQ:FSLR), the latter announced today.

First Solar is building the two solar parks in Iron County using its Series 6 modules. Upon completion in the second and fourth quarters of 2020, the plants will power Facebook’s data centre operations under long-term power purchase agreements (PPA) already in place with PacifiCorp. The finalised facilities will be operated by First Solar Energy Services.

This transaction will nearly double DESRI’s portfolio of First Solar-developed projects to more than 360 MW, the announcement says. DESRI previously bought four First Solar plants in California, namely Willow Springs in Kern County (100 MW); Cuyama in Santa Barbara County (40 MW); Portal Ridge in Los Angeles County (31 MW); and Rancho Seco in Sacramento County (11 MW).

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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