DESRI, Torch buy 75-MW solar project from Cypress Creek
Palmetto Plains solar park in South Carolina. Image by: Cypress Creek Renewables.
November 16 (Renewables Now) - US renewable energy asset owner D E Shaw Renewable Investments (DESRI) and Torch Clean Energy have acquired a 75-MW solar project in Colorado from developer Cypress Creek Renewables LLC.
The companies said on Monday they have reached financial notice to proceed with the Hunter scheme and its construction.
Fifth Third Bank, National Association and National Cooperative Services Corporation (CFC) served as coordinating lead arrangers and lenders for the acquisition, construction and operation of the project.
To be located in Colorado’s Arapahoe County, the photovoltaic (PV) park will operate under two power purchase agreements (PPAs) with electric cooperatives CORE Electric Cooperative (CORE) and Holy Cross Energy (HCE), which have committed to buying its whole output. Once up and running, the plant will be capable of generating enough electricity to supply over 18,500 homes per year.
Engineering, procurement, and construction (EPC) contractor Primoris has been hired to install the solar park, while Hunt Electric will take care of EPC works related to the substation. Solv Inc will operate and maintain the solar farm.
Hunter solar will be DESRI’s first PV endeavor in Colorado, the company noted.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.