Might 12 (Renewables Now) – DE Shaw Renewable Investments LLC (DESRI) has achieved industrial operations and closed debt and tax fairness financing for 2 photo voltaic parks in Illinois totalling 198 MW.
Every of the 2 vegetation, particularly Prairie State Photo voltaic and Dressor Plains Photo voltaic, will probably be operated below long-term energy buy agreements with electrical cooperative Wabash Valley Energy Alliance (WVPA). In addition they have contracts in place for the acquisition of renewable vitality certificates (RECs) with the Illinois Energy Company (IPA), DESRI mentioned on Wednesday.
Situated in Perry County and Fayette County, the Prairie and Dressor parks are anticipated to have a mixed output equal to the ability consumption of round 21,000 houses yearly. Every of them has a person capability of 99 MW.
Each initiatives had been co-developed by Chicago-based Ranger Energy and are backed by time period debt from the US Division of Agriculture’s Rural Utility Service. Moreover, DESRI utilised debt financing to amass and construct the 2 initiatives. The debt was prolonged by a tie-up of lenders together with Canadian Imperial Financial institution of Commerce, CoBank, Sumitomo Mitsui Banking Company, PNC Capital Markets LLC, PNC Financial institution, Nationwide Affiliation and Nationwide Cooperative Companies Company.
Tax fairness part was offered by Financial institution of America.
SOLV Vitality was the engineering, procurement and building (EPC) for each initiatives. The corporate may even handle the vegetation’ operations and upkeep.