DE Shaw commissions 80MW Elektron solar project in Utah

May 16, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
alta luna desri
DESRI’s Elektron project has joined an operating portfolio that includes the Alta Luna project in New Mexico (pictured). Image: DESRI

US renewables developer DE Shaw Renewable Investments (DESRI) has launched commercial operations at its 80MW Elektron solar project in the US state of Utah.

DESRI acquired the project from fellow US firm Enyo Renewable Energy in 2020, and began construction work in 2021. NORD/LB, the National Bank of Canada and City National Bank provided financing for the deal, while US company SOLV Energy provided engineering, procurement and construction (EPC) work at the project, and will continue to provide operations and maintenance services in the future.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The developer has two power purchase agreements (PPAs) in place with local utility Rocky Mountain Power, a subsidiary of PacifiCorp, which will involve the sale of electricity generated at the project for 20 years and 25 years, respectively.

These deals were signed under Rocky Mountain Power’s Schedule 34 programme, a system by which the utility can acquire power from a range of projects with a capacity of greater than 5MW, to serve a number of customers.

These customers can aggregate their electricity demand, to enable them to acquire power en masse from utility-scale renewables projects, and includes a number of Utah institutions, including Salt Lake City and the Utah Valley University.

“Rocky Mountain Power is pleased to continue its long partnership with customers and communities in Utah to take part in our renewable energy programs including our existing renewable tariff options,” said Craig Eller, vice president for business policy and development at PacifiCorp.

“This project represents a significant step forward in our collective efforts and we look forward to working with customers to develop additional projects and programs.”

While Utah is not a historic leader in the US solar space, its solar industry has grown rapidly in recent years. According to the US Solar Energy Industries Association (SEIA), Utah had 2.7GW of solar installed at the end of 2023, the 14th-most among the 50 states, up from 32nd earlier in the year. The SEIA expects Utah to add over 4GW of new solar capacity over the next five years, the 13th-most in the US, with supportive legislation a key driver of new installations in the state.

Last August, Greenbacker Capital Management completed a US$148 million tax equity financing commitment to support the development of a 240MW project in the state, one of the first such deals to utilise the production tax credit (PTC) in the country.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK