DE Shaw Renewable Investments (DESRI) and Bright Plain Renewable Energy BPRE) have bought five solar farms in Tulare County, California from Macquarie Capital.
The 21.9MW portfolio is expected to produce 36,500MWh of energy for the utilities Pacific Gas & Electric and Southern California Edison.
“Solar power provides a clean and reliable source of energy to serve our growing energy demand while reducing the need for imported fossil fuels,” said Bryan Martin, managing director and head of US growth and buyout private equity at the DE Shaw group.
“We're confident that these projects will benefit the residents of central California for years to come.”
DE Shaw is a US$30bn investment fund has already partnered with Bright Plain to invest in US solar infrastructure this year. The Tulare County deal eclipses its purchase of a 5MW solar farm in Pennsylvania in January 2013.
The original developer ImMODO will continue to serve as the engineering, procurement, and construction (EPC) contractor for the five projects. It will also provide operations and maintenance services to the facilities once operational.