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

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

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

June 11, 2025
A new report has claimed that creating a Sydney renewable energy zone (REZ) in New South Wales, Australia, could generate up to 21GW of renewable energy from rooftop solar PV.
June 11, 2025
Venn Energy, a renewable energy developer, has seen its 500MW Cooba solar-plus-storage site selected for inclusion in Victoria’s Development Facilitation Program (DFP) scheme in Australia.
June 6, 2025
ElectraNet has revealed that renewables supplied 100% of South Australia's electricity demand for 27% of 2024, roughly 99 days.
June 5, 2025
Indian solar module manufacturer Vikram Solar has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO) and raise capital through the public markets.
June 5, 2025
Policy uncertainty in the US is likely to disrupt investment in clean energy, according to a recent report from Crux.
June 4, 2025
Tariffs on US imports will increase the cost of US solar PV and energy storage technologies and slow the rate of project development, according to analysis from Wood Mackenzie.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand