D. E. Shaw Renewable Investments (DESRI) has acquired the Hunter Solar project in Emery County, Utah from Community Energy. DESRI also closed on financing and a tax equity commitment for the project.
Hunter Solar is a 100 MW AC project with a long-term PPA with PacifiCorp which will provide the renewable energy certificates from the new solar power to Facebook’s data center operations.
A syndicate of lenders led by HSBC as the Coordinating Lead Arranger and CIBC as the Joint Lead Arranger provided financing for the project, while Wells Fargo provided a commitment for tax equity funding.
Swinerton Renewable Energy, a subsidiary of Swinerton Builders, will build the project and provide operations and maintenance services after its commercial operations date.
“DESRI is very pleased to close its fifth transaction with Community Energy. We are very excited to be able to work with Community Energy, Facebook, and PacifiCorp to expand our solar presence in Utah.”
Bryan Martin, executive chairman of DESRI.
“Community Energy is inspired by the partnership and leadership of DESRI, Facebook, PacifiCorp and Emery County in making the 100 MW Hunter project a reality. This project illustrates the strong commitment that DESRI, Facebook and PacifiCorp have to bringing cost effective, renewable energy to the Utah grid. The Hunter project takes us all one step closer to bringing America towards a carbon-free energy future.”
Emily Burks, executive VP and general counsel of Community Energy.
“Construction on Hunter Solar provides an employment opportunity for hundreds of workers during a period marked by downturn and layoffs in many other industries. Solar projects like Hunter are helping keep Americans working safely and the economy moving forward.”
George Hershman, president of Swinerton Renewable Energy.
The project has moved into construction. It is expected to employ over 300 people during construction and create significant tax revenue to Emery County over the project life.
