NEW YORK, Nov. 18, 2021 /PRNewswire/ -- D. E. Shaw
Renewable Investments (DESRI), a leading renewable energy producer
in the U.S., today announced the signing of three renewable energy
off-take agreements with Entergy Louisiana (ELL). The solar
facilities will be built under power purchase agreements (PPAs) or
build transfer agreements (BTAs) with ELL to support its growing
renewable energy portfolio in the region and help power local
customers' electricity needs:
- The Vacherie Solar Energy Center (Vacherie) will be a 150 MWac facility in
St. James Parish, Louisiana;
- The SJ Louisiana Solar Project (SJ Solar) will be a 150
MWac facility in St. James Parish,
adjacent to Vacherie;
- The Sunlight Road Solar Project (Sunlight Road) will be
a 50 MWac solar facility in Washington
Parish.
Vacherie and SJ Solar will be
DESRI's second and third solar facilities in St. James Parish, following the 20 MWac St.
James Solar Project (St. James).
Sunlight Road will be DESRI's second solar facility in Washington Parish, following the 50 MWac Iris
Solar Project (Iris). Vacherie, SJ
Solar, and Sunlight Road are scheduled to supply new clean solar
energy to ELL and its Louisiana
customers beginning in 2024.
"DESRI is pleased to partner with Entergy Louisiana on these
three solar facilities, which bring the collective total of our
renewable energy projects with Entergy above 400 MWac," said Hy
Martin, chief development officer of DESRI. "Continuing our
long-standing work with Entergy, these projects will provide
affordable energy to Louisiana
residents and create local economic development benefits as the
state becomes a national leader in the new energy economy."
"DESRI has been a great partner of Entergy and our goal to
deliver clean, affordable and reliable services to our customers,"
said Phillip May, Entergy Louisiana
president and CEO. "We look forward to extending that partnership
on three more projects across our state and to help our communities
prosper for generations to come."
The Vacherie, SJ Solar, and
Sunlight Road facilities are expected to deliver significant
community benefits, including the creation of several hundred
construction jobs. When the projects are operational, DESRI will be
the long term owner and operator of Vacherie and Sunlight Road,
while ELL will take ownership of SJ Solar.
Affiliates of SunChase Power and Eolian led the initial
development of 150 MWac SJ Solar, as well as for the earlier 20
MWac St. James and the 50 MWac Iris solar projects for which
construction is currently underway.
"SunChase and Eolian began development of these southern
Louisiana sites in 2015,
anticipating the eventual cost-effectiveness of solar energy
supplies adjacent to key load pockets to meet the reliability and
environmental requirements that ELL and its customers have put at
the forefront of their energy supply strategy," stated Aaron Zubaty, CEO of Eolian.
"These projects would not be possible without the support of
landowners and local communities. We greatly appreciate their
partnership through the years of development that it has taken to
make these projects a reality," added Heather Otten, Co-Founder of SunChase Power.
About D. E. Shaw Renewable Investments
D. E. Shaw
Renewable Investments (DESRI) and its affiliates develop, acquire,
own, and operate long-term contracted renewable energy assets in
the U.S. DESRI's portfolio of operating and in-construction
renewable energy projects currently includes more than 50 solar and
wind projects representing more than 6 GW of aggregate capacity.
DESRI is a member of the D. E. Shaw group, a global investment and
technology development firm with more than $60 billion in investment and committed capital
as of September 1, 2021, and offices
in North America, Europe, and Asia.
Please visit www.desri.com for more information
about DESRI.
About Entergy Louisiana
Entergy Louisiana, LLC
provides electric service to approximately 1.1 million customers
and natural gas service to more than 93,000 customers in the
greater Baton Rouge area. It has
operations in southern, central and northern Louisiana.
Entergy Corporation (NYSE: ETR) is an integrated energy company
engaged in electric power production, transmission and retail
distribution operations. Entergy delivers electricity to 3 million
utility customers in Arkansas,
Louisiana, Mississippi and Texas. Entergy owns and operates one of the
cleanest large-scale U.S. power generating fleets with
approximately 30,000 megawatts of electric generating capacity,
including 7,000 megawatts of nuclear power. Headquartered in
New Orleans, Louisiana, Entergy
has annual revenues of $10 billion
and approximately 12,500 employees. Learn more at entergy.com and
follow @Entergy on social media.
This press release is provided for the reader's information
only and does not constitute investment advice or convey an offer
to sell, or the solicitation of an offer to buy, any securities or
other financial products.
Please also note that this press release has not been updated
since its dateline for any information contained in it that may
have changed, including any beliefs and/or opinions. In addition,
no assurances can be given that any aims, assumptions,
expectations, and/or goals described in this release will be
realized or that the activities or any performance described herein
did or will continue at all or in the same manner as at the time of
the press release.
Contact:
Liz Peyton
Media
desri-media-inquiries@world.deshaw.com
Tripp Roy
Development
tripp.roy@deshaw.com
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SOURCE D. E. Shaw Renewable Investments