DESRI secures up to USD 400m from Harbert Infrastructure

The Alta Luna solar plant in New Mexico. Source: D. E. Shaw Renewable Investments (DESRI).

June 29 (Renewables Now) - US solar and wind assets developer and owner DE Shaw Renewable Investments LLC (DESRI) will receive up to USD 400 million (EUR 380.3m) of capital from funds managed by Harbert Infrastructure to use “at DESRI's discretion”.

The beneficiary of the financing announced the news today, saying it has established a strategic financing relationship with Harbert Infrastructure-managed funds, including Gulf Pacific Power LLC (GPP) and Harbert Infrastructure Fund VI (HIF VI).

"This financing will support DESRI's growth in key electricity markets across the US and facilitate new investment to serve our customers and host communities,” commented David Zwillinger of DESRI.

At present, DESRI has a 6-GW-plus portfolio of renewable energy projects, either operating, under construction or with contracts in place.

Earlier this month it was announced that the company is part of the so-called US Solar Buyer Consortium alongside The AES Corporation (NYSE:AES) and three more independent power producers (IPP). Together, they have committed to purchase up to 7 GW of solar modules for local projects to support the rapid scaling of the domestic supply chain.

(USD 1 = EUR 0.951)

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