D. E. Shaw Renewable Investments, LLC (DESRI) and Bright Plain Renewable Energy (BPRE) have announced the acquisition of five Tulare County solar power projects from Macquarie Capital. The 21.9-megawatt (DC) portfolio of solar projects was originally developed by ImMODO Energy Services Corporation (ImMODO) in Tulare County, CA, and was acquired by an affiliate of DESRI in partnership with BPRE.
ImMODO will continue to serve as the engineering, procurement, and construction (EPC) contractor for the five projects, and will also provide operations and maintenance (O&M) services to the facilities once operational. The projects are expected to produce more than 36,500 MWhs of renewable energy per year for customers of Pacific Gas & Electric and Southern California Edison. KeyBank N.A. provided construction and term financing to the projects.
"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 U.S. growth and buyout private equity at the D. E. Shaw group. "We're confident that these projects will benefit the residents of central California for years to come."