DESRI acquires 40MW California PV project from First Solar

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The Cuyama Solar Project in Santa Barbara County is expected to be completed by the end of the year.  Credit: First Solar

D. E. Shaw Renewable Investments (DESRI) has acquired a 40MW(AC) solar project which is still under construction in California from First Solar.

The Cuyama Solar Project in Santa Barbara County is expected to be completed by the end of the year. Terms of the deal were not disclosed.

Community Choice Aggregator Peninsula Clean Energy has a one-year ‘bridge’ power purchase agreement (PPA) for power delivered from the plant in 2018. After this, power is due to be supplied to the utility Pacific Gas & Electric (PG&E) under a 25-year PPA from January 2019.

A DESRI statement claimed that this will be the first utility-scale solar installation in Santa Barbara County and it is expected to power the equivalent of 16,000 typical California homes.

This is the third PV project DESRI has acquired from First Solar. In 2016, DESRI affiliates acquired the 31MW(AC) Portal Ridge Solar Project in Los Angeles County and the 11MW(AC) Rancho Seco Solar Project in Sacramento County.

Read Next

April 14, 2021
While recent solar auctions in Spain and Portugal have made headlines with low prices and high levels of participation, the power purchase agreement market will be key to helping both countries reach their 2030 solar deployment targets, it was suggested during a panel discussion.
April 14, 2021
Meyer Burger is on track to start shipments of its first heterojunction (HJ) solar modules made in Germany to distributors in July.
April 13, 2021
US independent power producer Catalyze has expanded its project pipeline to more than 2GW through the acquisition of commercial and industrial (C&I) solar developer PermaCity.
April 13, 2021
London-based US Solar Fund has launched a placing programme that will be conducted over the next 12 months to help expand its PV portfolio to 543MWdc.
April 12, 2021
A consortium between Abu Dhabi-based Masdar, EDF Renewables and Nesma Holding Company has broken ground on a 300MW PV project in Saudi Arabia.
April 8, 2021
The US Department of the Treasury has revealed how new renewable tax incentives will be paid for by a tax raid on the fossil fuel industry, eliminating subsidies for oil and gas companies.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021