D. E. Shaw acquires Cuyama solar project from First Solar

Written By: Katherine Demetre
August 17, 2017

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On Aug. 17, 2017, First Solar and D. E. Shaw Renewable Investments announced the acquisition by a DESRI affiliate of the 40 MW ac Cuyama Solar Project in Santa Barbara County, California.

Per the company, the project is set for completion by the end of 2017. The company stated Pacific Gas & Electric (PG&E) would supply power under a 25-year power purchase agreement (PPA) starting in January 2019. In addition, First Solar reported that Community Choice Aggregator Peninsula Clean Energy obtained a one-year “bridge” PPA for power, to be delivered from the plant in 2018.

Bryan Martin, CEO of DESRI, commented:

We are delighted to work with First Solar on another California solar project. Their technology and integrated power plant solutions will help us provide a cost-effective energy solution for the residents and businesses of Santa Barbara.

According to First Solar, the power plant – which is assumed to be the first utility-scale solar installation in Santa Barbara County – will be expected to provide enough clean, affordable sustainable electricity to power about 16,000 typical California homes a year.