D.E. Shaw Renewables Investments (DESRI) has signed a long-term power purchase agreement (PPA) with public utility Cleco Power for a 240MW PV project in Louisiana.
With a US$250 million investment, the project will be constructed at a recently retired lignite-fired power plant in DeSoto Parish.
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The ‘Dollet Hills Solar’ project will bring the independent power producer’s (IPP) renewable portfolio of projects in construction and contracted in Louisiana to 700MW.
Earlier this year, the IPP secured US$400 million in new capital finance that would help support its US renewables strategy.
Furthermore, DESRI recently signed a long-term module supply agreement with Meyer Burger for up to 5GW of PV modules to be delivered between 2024 and 2029.