D.E. Shaw Renewable Investments (DESRI), the US renewable energy developer, has signed a 200MW power purchase agreement (PPA) with tech and social media titan Meta for power produced at the Long Lake solar project in Arkansas.
The Long Lake project represents the latest offtake agreement between the two companies, and will fuel Meta’s growing operations in the Arkansas region.
“DESRI is continuing to build out a portfolio of affordable, on-peak renewable energy projects to serve corporate and utility customers around the country. We are pleased to partner with Meta on the Long Lake project and now count more than 850MWac of clean energy nationwide to support their operations,” said Hy Martin, chief development officer of DESRI.
The initial development of the project was led by Acadian Renewable Energy, a joint venture between Eolian L.P. and SunChase Power.
“Eolian and SunChase formed Acadian in 2015, anticipating the growing need for low-cost solar energy in Arkansas and the larger MISO power market that will directly reduce the passthrough fuel costs from conventional thermal generators while simultaneously producing valuable energy during the highest-demand, hottest summer afternoons,” said Aaron Zubaty, CEO of Eolian.
In August, DESRI signed a 240MW PPA for a Louisiana project with public utility Cleco Power. It also signed a 5GW module supply deal with swiss PV manufacturer Meyer Burger to be delivered between 2024-29.
This week PV Tech reported that Meta has the largest corporate PV portfolio in the US, clocking in at 3.6GW.