D. E. Shaw Renewable Investments Announces the Acquisition and Debt Financing Closing of Arroyo Solar & Storage
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Monday, September 20, 2021
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NEW YORK, Sept. 20, 2021 /PRNewswire/ --D. E. Shaw Renewable Investments (DESRI) announced today the closing of the acquisition of and debt financing for the Arroyo Solar and Storage (Arroyo) project.
Key Points:
- NEW YORK, Sept. 20, 2021 /PRNewswire/ --D. E. Shaw Renewable Investments (DESRI) announced today the closing of the acquisition of and debt financing for the Arroyo Solar and Storage (Arroyo) project.
- Arroyo is a 300 MWAC solar and 150 MWAC/600 MWh battery energy storage system facility that is being developed in McKinley County, New Mexico.
- Arroyo is DESRI's first solar project with co-located battery storage to enter construction and financing, and once operational, will be one of the largest solar and battery projects in the U.S. DESRI acquired the project from the original developer, Centaurus Renewable Energy.
- Arroyo has two offtake contracts with Public Service Company of New Mexico (PNM) for the solar and storage output respectively.