D. E. Shaw Renewable Investments (DESRI) Announces Signing of 350MWac of Clean Power Projects with Entergy Louisiana

Rhea-AI Summary

D. E. Shaw Renewable Investments (DESRI) announced agreements with Entergy Louisiana (ELL) for three solar projects totaling 350 MWac, scheduled to commence operations in 2024. The facilities include the Vacherie Solar Energy Center and the SJ Louisiana Solar Project, both 150 MWac, and the Sunlight Road Solar Project, 50 MWac. These projects aim to enhance ELL's renewable portfolio and create local jobs. Overall, DESRI's collaboration with ELL now exceeds 400 MWac in renewable projects, contributing to economic development in Louisiana.

Positive

• Signing of three solar off-take agreements for 350 MWac creates significant renewable energy capacity.
• Projects expected to generate several hundred construction jobs.
• Collaboration with Entergy Louisiana exceeds 400 MWac in renewable projects.

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• None.

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

FAQ

What renewable energy projects were signed by ETR on November 18, 2021?

On November 18, 2021, ETR announced the signing of three solar projects with DESRI totaling 350 MWac.

How much renewable energy capacity is ETR planning to add through its partnership with DESRI?

ETR is planning to add 350 MWac of renewable energy capacity through its partnership with DESRI.

When are the new solar projects by ETR scheduled to start operation?

The new solar projects by ETR are scheduled to start operations in 2024.

How many jobs will be created by ETR's new solar projects?

The new solar projects by ETR are expected to create several hundred construction jobs.

What is the significance of the projects signed by ETR and DESRI?

The projects will enhance ETR's renewable energy portfolio and contribute to local economic development in Louisiana.