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US investor acquires 100MW Utah PV

06.03.20

Original post: https://renews.biz/60728/us-investor-acquires-100mw-utah-pv/

June 3, 2020

US investor DE Shaw Renewable Investments (DESRI) has bought the 100MW Hunter solar project in Utah from clean energy projects developer Community Energy for an undisclosed amount.

The project has a long-term power purchase agreement with PacifiCorp, which will provide Facebook’s data centre operations with renewable electricity.

It will also provide the tech giant with renewables certificates relating to the solar power.

Swinerton Renewable Energy is building the project, which is presently under construction.

It will also take care of its operations and maintenance following completion.

Financing for the project was provided by a syndicate of lenders led by HSBC as co-ordinating lead arranger and CIBC as joint lead arranger.

Wells Fargo provided a commitment for tax equity financing.

Community Energy executive vice-president and general counsel Emily Burks said: “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.”

Swinerton Renewable Energy president George Hershman said: “Construction on Hunter Solar provides an employment opportunity for hundreds of workers during a period marked by downturn and layoffs in many other industries.”

The project is expected to employ more than 300 people during its construction phase and create significant tax revenue for Emery County over the plant's lifespan.

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