Renewable energy IPP DESRI files for IPO to raise US$100m

Facebook
Twitter
LinkedIn
Reddit
Email
DESRI has a portfolio of 6,468MW of contracted renewable energy projects. Image: Endesa.

US independent power producer DESRI is planning to raise up to US$100 million in an initial public offering (IPO) that will see the company listed on the Nasdaq.

The transaction includes share sales from existing shareholders in the company, which will be listed under the ticker symbol ‘DESR’ when the IPO is completed. Pricing terms have not been disclosed.

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

New York-headquartered DESRI said it would use part of the proceeds to fund the development and construction of renewables plants as well as to potentially fund project acquisitions and “other strategic opportunities”.

Goldman Sachs and BofA Securities are joint bookrunners on the deal.

DESRI’s co-founders launched the company in 2010 as a new business within the D. E. Shaw group, a global investment and technology development firm.

The IPP develops, constructs, owns and operates renewable energy projects across the US, with a primary focus on utility-scale solar. As of September 2021, its portfolio of utility-scale renewables assets includes 67 solar, wind and battery storage projects in 25 US states representing 6,468MW of capacity across contracted pre-construction, construction and operational phases.

The company also has an uncontracted development pipeline of more than 11GW of renewable power generation projects and over 1GW of energy storage installations.

In an IPO prospectus, DESRI touted its ability to secure consistent revenue streams from power purchase agreements (PPAs), some with terms of more than three decades.

Last October saw the company close debt and tax equity financing for a 149MWac PV project in Michigan and sign a PPA for a 160MWac solar plant in Virginia that will help to power Facebook data centres.

Read Next

September 30, 2025
SynergyRED, a wholly owned subsidiary of Synergy, has submitted a development application for a 2GW hybrid renewable energy project in Western Australia's Mid-West Region.
September 29, 2025
German renewables developer ABO Energy is looking to begin owning and operating its energy projects in a transition from a “pure play” developer to an independent power producer (IPP) model.
September 29, 2025
Burns & McDonnell examines the outlook of the utility-scale solar sector amidst the latest policy and tariff changes.
September 26, 2025
Residential solar and energy storage could meet all the projected demand from US data centres over the next five years if tech companies invest in household energy infrastructure.
September 26, 2025
Global grids have failed to keep pace with renewable energy technologies and have become the “bottleneck of the energy transition”, according to a new policy report from the Global Solar Council (GSC).
September 25, 2025
Developer ACE Power and Osaka Gas Energy Australia have submitted plans for a 100MW solar-plus-storage project to Australia’s EPBC Act.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland